Stifel Nicolaus Cuts Civeo (NYSE:CVEO) Price Target to $28.00

Civeo (NYSE:CVEO) had its target price lowered by Stifel Nicolaus from $30.00 to $28.00 in a report released on Tuesday, MarketBeat reports. The firm currently has a buy rating on the business services provider’s stock.

Separately, StockNews.com downgraded shares of Civeo from a “buy” rating to a “hold” rating in a research report on Monday, March 31st.

Civeo Stock Performance

CVEO stock opened at $19.65 on Tuesday. The firm has a 50 day moving average of $22.48 and a two-hundred day moving average of $23.85. Civeo has a 12 month low of $18.99 and a 12 month high of $28.92. The company has a market capitalization of $266.24 million, a price-to-earnings ratio of 14.04 and a beta of 1.54. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 0.18.

Civeo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 5.09%. Civeo’s dividend payout ratio (DPR) is presently -80.00%.

Institutional Trading of Civeo

Several large investors have recently modified their holdings of CVEO. BNP Paribas Financial Markets bought a new position in Civeo in the 4th quarter worth $94,000. SG Americas Securities LLC increased its stake in shares of Civeo by 42.4% in 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 period. State Street Corp acquired a new position in shares of Civeo during the 3rd quarter worth about $222,000. XTX Topco Ltd bought a new stake in Civeo during the 3rd quarter valued at approximately $231,000. Finally, Mackenzie Financial Corp acquired a new stake in Civeo in the 4th quarter valued at approximately $386,000. 81.44% of the stock is owned by institutional investors.

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.