Civeo Co. (NYSE:CVEO) Stake Lessened by Mad River Investors

Mad River Investors cut its stake in Civeo Co. (NYSE:CVEO) by 1.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 241,866 shares of the business services provider’s stock after selling 2,880 shares during the period. Civeo accounts for approximately 4.5% of Mad River Investors’ portfolio, making the stock its 5th largest position. Mad River Investors owned 1.65% of Civeo worth $6,494,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CVEO. Boston Partners grew its holdings in Civeo by 62.0% in the fourth quarter. Boston Partners now owns 136,247 shares of the business services provider’s stock worth $3,113,000 after purchasing an additional 52,168 shares during the period. FMR LLC grew its stake in shares of Civeo by 4.5% in the 3rd quarter. FMR LLC now owns 1,206,052 shares of the business services provider’s stock worth $25,001,000 after buying an additional 51,400 shares during the last quarter. Brown Advisory Inc. increased its position in Civeo by 13.4% during the 4th quarter. Brown Advisory Inc. now owns 358,097 shares of the business services provider’s stock valued at $8,183,000 after buying an additional 42,378 shares in the last quarter. Wellington Management Group LLP raised its stake in Civeo by 10.2% during the third quarter. Wellington Management Group LLP now owns 446,000 shares of the business services provider’s stock valued at $9,246,000 after buying an additional 41,300 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in Civeo during the fourth quarter valued at $698,000. 81.44% of the stock is owned by institutional investors.

Civeo Stock Performance

CVEO traded down $0.18 during midday trading on Thursday, reaching $23.59. The company had a trading volume of 25,590 shares, compared to its average volume of 35,730. The business has a 50-day moving average of $24.30 and a two-hundred day moving average of $23.98. The company has a quick ratio of 1.74, a current ratio of 1.82 and a debt-to-equity ratio of 0.26. Civeo Co. has a 1 year low of $17.98 and a 1 year high of $28.00. The company has a market cap of $344.89 million, a P/E ratio of 11.20 and a beta of 2.07.

Civeo (NYSE:CVEO) last released its earnings results on Friday, April 26th. The business services provider reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.06). Civeo had a return on equity of 3.53% and a net margin of 4.49%. The firm had revenue of $166.12 million during the quarter, compared to analysts’ expectations of $154.73 million. As a group, equities research analysts predict that Civeo Co. will post 0.54 earnings per share for the current fiscal year.

Civeo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, May 27th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date was Thursday, May 23rd. Civeo’s dividend payout ratio (DPR) is 47.39%.

Insider Activity at Civeo

In other news, SVP Peter Mccann sold 5,220 shares of Civeo stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $23.75, for a total value of $123,975.00. Following the completion of the transaction, the senior vice president now owns 45,395 shares in the company, valued at approximately $1,078,131.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVEO. StockNews.com upgraded Civeo from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 20th. Stifel Nicolaus raised their price objective on shares of Civeo from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th.

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.