Short Interest in Civeo Co. (NYSE:CVEO) Increases By 18.1%

Civeo Co. (NYSE:CVEO - Get Free Report) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totalling 290,300 shares, a growth of 18.1% from the April 30th total of 245,900 shares. Based on an average daily trading volume, of 100,800 shares, the short-interest ratio is presently 2.9 days. Approximately 2.5% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CVEO. Wall Street Zen upgraded shares of Civeo from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Stifel Nicolaus cut their price objective on Civeo from $28.00 to $27.00 and set a "buy" rating for the company in a report on Friday, May 2nd.

Civeo Trading Up 0.7%

Shares of Civeo stock traded up $0.16 during trading on Wednesday, hitting $22.24. 59,323 shares of the company were exchanged, compared to its average volume of 71,667. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.28. The firm's fifty day moving average price is $20.61 and its 200 day moving average price is $22.35. Civeo has a 1-year low of $18.01 and a 1-year high of $28.92. The firm has a market capitalization of $299.19 million, a P/E ratio of 15.89 and a beta of 1.28.

Civeo (NYSE:CVEO - Get Free Report) last released its earnings results on Wednesday, April 30th. The business services provider reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.06. Civeo had a return on equity of 0.11% and a net margin of 3.00%. The firm had revenue of $144.04 million for the quarter, compared to analysts' expectations of $150.86 million. As a group, sell-side analysts expect that Civeo will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of Civeo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVEO. WINTON GROUP Ltd boosted its holdings in shares of Civeo by 218.5% during the 4th quarter. WINTON GROUP Ltd now owns 26,256 shares of the business services provider's stock worth $597,000 after buying an additional 18,013 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Civeo in the 4th quarter worth $878,000. Raymond James Financial Inc. bought a new position in shares of Civeo in the 4th quarter worth $1,452,000. TCW Group Inc. lifted its holdings in shares of Civeo by 4.2% in the 4th quarter. TCW Group Inc. now owns 780,217 shares of the business services provider's stock worth $17,727,000 after purchasing an additional 31,157 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Civeo by 63.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 170,118 shares of the business services provider's stock worth $3,865,000 after purchasing an additional 66,097 shares in the last quarter. Institutional investors and hedge funds own 81.44% of the company's 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.

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