Civeo Co. (NYSE:CVEO) Sees Large Increase in Short Interest

Civeo Co. (NYSE:CVEO) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 157,900 shares, an increase of 70.9% from the February 13th total of 92,400 shares. Approximately 1.4% of the company’s shares are short sold. Based on an average daily trading volume, of 102,200 shares, the short-interest ratio is currently 1.5 days.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Civeo from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th.

Hedge Funds Weigh In On Civeo

Several institutional investors and hedge funds have recently bought and sold shares of CVEO. Quantbot Technologies LP acquired a new position in Civeo during the third quarter worth approximately $68,000. BNP Paribas Financial Markets acquired a new position in Civeo during the fourth quarter worth approximately $94,000. SG Americas Securities LLC increased its position in Civeo by 42.4% during the fourth quarter. SG Americas Securities LLC now owns 6,552 shares of the business services provider’s stock worth $149,000 after purchasing an additional 1,950 shares during the last quarter. State Street Corp acquired a new position in Civeo during the third quarter worth approximately $222,000. Finally, XTX Topco Ltd acquired a new position in Civeo during the third quarter worth approximately $231,000. Institutional investors and hedge funds own 81.44% of the company’s stock.

Civeo Stock Performance

Shares of CVEO stock opened at $20.56 on Monday. Civeo has a one year low of $20.26 and a one year high of $28.92. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.36. The company has a 50 day moving average price of $23.71 and a 200 day moving average price of $24.96. The firm has a market capitalization of $280.74 million, a price-to-earnings ratio of 14.69 and a beta of 2.03.

Civeo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend is Monday, February 24th. Civeo’s dividend payout ratio (DPR) is -80.00%.

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.