Civeo Co. (CVEO) to Issue Quarterly Dividend of $0.25 on December 16th

Civeo Co. (NYSE:CVEO) announced a quarterly dividend on Wednesday, October 30th, NASDAQ reports. Investors of record on Monday, November 25th will be given a dividend of 0.25 per share by the business services provider on Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Monday, November 25th.

Civeo has a dividend payout ratio of 172.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Civeo to earn $0.50 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 200.0%.

Civeo Trading Up 1.8 %

Shares of NYSE CVEO opened at $25.65 on Friday. The stock has a market capitalization of $368.52 million, a P/E ratio of 18.32 and a beta of 2.04. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.46. The business’s 50 day moving average is $27.68 and its two-hundred day moving average is $25.86. Civeo has a 1-year low of $19.10 and a 1-year high of $28.92.

Civeo (NYSE:CVEO) last issued its quarterly earnings results on Tuesday, July 30th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.35. Civeo had a return on equity of 0.11% and a net margin of 3.00%. The firm had revenue of $188.71 million during the quarter, compared to analyst estimates of $173.70 million. During the same period last year, the company earned $0.30 EPS. As a group, research analysts expect that Civeo will post -0.36 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus restated a “buy” rating and issued a $32.00 price target (up from $31.00) on shares of Civeo in a report on Wednesday, July 31st.

Insider Activity at Civeo

In other news, SVP Allan Schoening sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $27.50, for a total transaction of $137,500.00. Following the transaction, the senior vice president now owns 16,146 shares in the company, valued at approximately $444,015. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 4.30% of the stock is owned by company insiders.

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.