Civeo Co. (NYSE:CVEO) Holdings Cut by Raymond James & Associates

Raymond James & Associates reduced its stake in shares of Civeo Co. (NYSE:CVEO) by 6.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,108 shares of the business services provider’s stock after selling 4,491 shares during the period. Raymond James & Associates owned 0.45% of Civeo worth $1,511,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Qube Research & Technologies Ltd acquired a new position in Civeo in the third quarter worth approximately $30,000. Bank of America Corp DE increased its stake in shares of Civeo by 466.5% during the 4th 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 last quarter. Lazard Asset Management LLC bought a new position in shares of Civeo during the 1st quarter valued at $55,000. Acadian Asset Management LLC lifted its stake in shares of Civeo by 33.2% in the 1st quarter. Acadian Asset Management LLC now owns 5,387 shares of the business services provider’s stock valued at $124,000 after purchasing an additional 1,342 shares during the last quarter. Finally, HighTower Advisors LLC bought a new stake in Civeo in the first quarter worth $205,000. 81.44% of the stock is owned by institutional investors and hedge funds.

Civeo Price Performance

NYSE CVEO opened at $25.07 on Friday. Civeo Co. has a fifty-two week low of $17.87 and a fifty-two week high of $28.00. The stock’s 50-day moving average is $24.71 and its two-hundred day moving average is $22.86. The firm has a market cap of $367.53 million, a P/E ratio of 12.29 and a beta of 2.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.53 and a quick ratio of 1.47.

Civeo (NYSE:CVEO) last posted its earnings results on Thursday, February 29th. The business services provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.33. The firm had revenue of $170.80 million during the quarter, compared to analyst estimates of $151.12 million. Civeo had a return on equity of 2.69% and a net margin of 4.30%. On average, analysts anticipate that Civeo Co. will post 0.14 earnings per share for the current fiscal year.

Civeo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, February 26th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend was Friday, February 23rd. Civeo’s dividend payout ratio is currently 49.02%.

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.