Civeo (NYSE:CVEO) Upgraded at StockNews.com

StockNews.com upgraded shares of Civeo (NYSE:CVEO) from a buy rating to a strong-buy rating in a research note released on Friday morning.

Civeo Stock Up 0.4 %

Shares of NYSE CVEO opened at $23.38 on Friday. The firm has a market cap of $321.94 million, a P/E ratio of 16.70 and a beta of 2.06. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.36. Civeo has a 1 year low of $21.44 and a 1 year high of $28.92. The firm’s 50 day moving average price is $26.36 and its 200 day moving average price is $25.85.

Civeo (NYSE:CVEO) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.38). The business had revenue of $176.34 million for the quarter, compared to analyst estimates of $172.59 million. Civeo had a return on equity of 0.11% and a net margin of 3.00%. During the same quarter last year, the business earned $0.61 EPS. As a group, sell-side analysts anticipate that Civeo will post -0.58 earnings per share for the current year.

Civeo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 4.28%. Civeo’s payout ratio is currently 71.43%.

Institutional Investors Weigh In On Civeo

A number of institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in Civeo during the third quarter worth about $68,000. Quent Capital LLC acquired a new stake in Civeo during the 3rd quarter worth approximately $100,000. SG Americas Securities LLC acquired a new stake in Civeo during the 2nd quarter worth approximately $128,000. State Street Corp purchased a new position in Civeo in the third quarter valued at approximately $222,000. Finally, XTX Topco Ltd acquired a new position in Civeo during the third quarter valued at approximately $231,000. 81.44% of the stock is currently owned by hedge funds and other institutional investors.

Civeo Company Profile

Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, and the United States. The company develops lodges and villages; and mobile assets, including modular, skid-mounted accommodation, and central facilities that provide short to medium-term accommodation needs.