Civeo Co. (NYSE:CVEO) Shares Purchased by Fmr LLC

Fmr LLC grew its holdings in Civeo Co. (NYSE:CVEO) by 3.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,524,352 shares of the business services provider’s stock after buying an additional 50,400 shares during the period. Fmr LLC owned 0.11% of Civeo worth $41,767,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Acadian Asset Management LLC increased its holdings in shares of Civeo by 58.1% in the second quarter. Acadian Asset Management LLC now owns 226,334 shares of the business services provider’s stock valued at $5,634,000 after purchasing an additional 83,145 shares during the period. American Century Companies Inc. lifted its stake in shares of Civeo by 22.4% in the 2nd quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider’s stock worth $6,355,000 after acquiring an additional 46,633 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Civeo in the second quarter valued at about $930,000. Dimensional Fund Advisors LP increased its stake in shares of Civeo by 10.0% during the second quarter. Dimensional Fund Advisors LP now owns 439,427 shares of the business services provider’s stock worth $10,950,000 after acquiring an additional 39,987 shares during the period. Finally, Bank of Montreal Can purchased a new position in Civeo during the second quarter worth about $947,000. Institutional investors and hedge funds own 81.44% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Civeo from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 29th.

Civeo Stock Down 0.7 %

CVEO stock opened at $22.73 on Friday. Civeo Co. has a 52 week low of $21.44 and a 52 week high of $28.92. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. The company has a market cap of $312.99 million, a P/E ratio of 16.24 and a beta of 2.03. The company’s 50-day moving average price is $25.89 and its 200 day moving average price is $25.78.

Civeo (NYSE:CVEO) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.38). The firm had revenue of $176.34 million during the quarter, compared to analysts’ expectations of $172.59 million. Civeo had a net margin of 3.00% and a return on equity of 0.11%. During the same period in the previous year, the business earned $0.61 earnings per share. On average, research analysts expect that Civeo Co. will post -0.58 earnings per share for the current fiscal year.

Civeo Dividend Announcement

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 given a $0.25 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 4.40%. Civeo’s dividend payout ratio is currently 71.43%.

About Civeo

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.