Civeo Co. (NYSE:CVEO) Declares $0.25 Dividend

Civeo Co. (NYSE:CVEO) announced a dividend on Tuesday, September 5th, Zacks reports. Stockholders of record on Friday, September 15th will be paid a dividend of 0.25 per share by the business services provider on Friday, September 29th. The ex-dividend date is Thursday, September 14th.

Civeo Stock Performance

Civeo stock traded up $0.31 during midday trading on Thursday, hitting $20.93. The company’s stock had a trading volume of 4,475 shares, compared to its average volume of 59,187. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.71 and a quick ratio of 1.64. The company has a market cap of $310.60 million, a price-to-earnings ratio of -18.52 and a beta of 2.56. Civeo has a 1-year low of $17.87 and a 1-year high of $36.88. The company has a 50-day moving average price of $19.04 and a two-hundred day moving average price of $20.48.

Civeo (NYSE:CVEO) last released its quarterly earnings results on Friday, July 28th. The business services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). The business had revenue of $178.84 million during the quarter, compared to analyst estimates of $173.59 million. Civeo had a negative net margin of 1.28% and a negative return on equity of 1.50%. As a group, sell-side analysts predict that Civeo will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd lifted its stake in Civeo by 8.6% during the second quarter. Quadrature Capital Ltd now owns 14,360 shares of the business services provider’s stock worth $279,000 after purchasing an additional 1,135 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Civeo during the 2nd quarter worth $309,000. Hudson Bay Capital Management LP acquired a new stake in Civeo in the first quarter valued at about $9,297,000. Squarepoint Ops LLC bought a new position in Civeo in the first quarter valued at about $271,000. Finally, Punch & Associates Investment Management Inc. raised its stake in Civeo by 146.8% during the first quarter. Punch & Associates Investment Management Inc. now owns 293,000 shares of the business services provider’s stock worth $6,050,000 after acquiring an additional 174,288 shares in the last quarter. 81.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Civeo in a report on Thursday, August 17th. They set a “buy” rating on the stock.

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.