Civeo Co. (NYSE:CVEO) Short Interest Up 23.6% in May

Civeo Co. (NYSE:CVEOGet Rating) was the target of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 43,400 shares, a growth of 23.6% from the May 15th total of 35,100 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average trading volume of 34,100 shares, the days-to-cover ratio is presently 1.3 days.

In related news, major shareholder Lance Torgerson sold 958,475 shares of the firm’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $22.75, for a total value of $21,805,306.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.80% of the company’s stock.

Large investors have recently modified their holdings of the business. TCW Group Inc. increased its stake in Civeo by 37.7% in the 4th quarter. TCW Group Inc. now owns 423,378 shares of the business services provider’s stock valued at $8,117,000 after buying an additional 115,909 shares during the last quarter. Donald Smith & CO. Inc. bought a new position in shares of Civeo in the first quarter valued at approximately $1,497,000. Morgan Stanley increased its position in shares of Civeo by 137.8% during the second quarter. Morgan Stanley now owns 47,276 shares of the business services provider’s stock valued at $842,000 after acquiring an additional 27,396 shares during the last quarter. Millennium Management LLC bought a new stake in Civeo during the fourth quarter worth $408,000. Finally, Invesco Ltd. purchased a new position in Civeo in the first quarter worth $304,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Shares of NYSE:CVEO opened at $26.63 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.30 and a current ratio of 1.36. Civeo has a 52-week low of $17.12 and a 52-week high of $31.74. The business’s 50 day simple moving average is $27.32 and its two-hundred day simple moving average is $23.65. The firm has a market cap of $377.08 million, a P/E ratio of 43.66, a PEG ratio of 4.93 and a beta of 2.98.

Civeo (NYSE:CVEOGet Rating) last released its quarterly earnings data on Friday, April 29th. The business services provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.37. The firm had revenue of $165.68 million for the quarter, compared to the consensus estimate of $142.25 million. Civeo had a net margin of 1.93% and a return on equity of 6.14%. During the same quarter in the prior year, the company posted ($0.70) earnings per share. On average, equities analysts forecast that Civeo will post 0.54 earnings per share for the current fiscal year.

Separately, began coverage on Civeo in a report on Thursday, March 31st. They issued a “strong-buy” rating for the company.

Civeo Company Profile (Get Rating)

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 accommodations, including modular, skid-mounted accommodation, and central facilities that provide long-term and temporary work force accommodations.

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