Civeo (NYSE:CVEO) Given New $30.00 Price Target at Stifel Nicolaus

Civeo (NYSE:CVEO) had its target price trimmed by Stifel Nicolaus from $31.00 to $30.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

Separately, StockNews.com assumed coverage on shares of Civeo in a research report on Thursday, October 5th. They set a buy rating on the stock.

Civeo Price Performance

Shares of Civeo stock opened at $19.50 on Monday. Civeo has a 1-year low of $17.87 and a 1-year high of $36.88. The firm’s 50-day moving average price is $19.81 and its two-hundred day moving average price is $19.73. The stock has a market capitalization of $289.38 million, a price-to-earnings ratio of -23.78 and a beta of 2.47. The company has a current ratio of 1.52, a quick ratio of 1.47 and a debt-to-equity ratio of 0.33.

Civeo (NYSE:CVEO) last announced its earnings results on Friday, July 28th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Civeo had a negative return on equity of 0.35% and a negative net margin of 0.80%. The company had revenue of $178.84 million for the quarter, compared to analyst estimates of $173.59 million. On average, equities analysts predict that Civeo will post -0.38 earnings per share for the current fiscal year.

Civeo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Monday, November 27th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 24th. This represents a $1.00 annualized dividend and a yield of 5.13%. Civeo’s dividend payout ratio is currently -121.95%.

Hedge Funds Weigh In On Civeo

Several large investors have recently bought and sold shares of CVEO. Bank of America Corp DE raised its holdings in Civeo by 466.5% in the fourth quarter. Bank of America Corp DE now owns 1,082 shares of the business services provider’s stock worth $34,000 after purchasing an additional 891 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Civeo during the first quarter worth $55,000. Acadian Asset Management LLC increased its position in shares of Civeo by 33.2% during the first quarter. Acadian Asset Management LLC now owns 5,387 shares of the business services provider’s stock worth $124,000 after acquiring an additional 1,342 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Civeo during the first quarter worth $205,000. Finally, Two Sigma Advisers LP bought a new position in Civeo in the third quarter valued at $213,000. 81.44% of the stock is currently owned by institutional investors and hedge funds.

Civeo Company Profile

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.