Adalta Capital Management LLC Reduces Stock Holdings in Civeo Co. (NYSE:CVEO)

Adalta Capital Management LLC lowered its stake in shares of Civeo Co. (NYSE:CVEO) by 37.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,000 shares of the business services provider’s stock after selling 3,000 shares during the quarter. Adalta Capital Management LLC’s holdings in Civeo were worth $137,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVEO. SG Americas Securities LLC bought a new stake in Civeo in the second quarter worth about $128,000. TCW Group Inc. boosted its holdings in Civeo by 1.0% during the 2nd quarter. TCW Group Inc. now owns 761,574 shares of the business services provider’s stock valued at $18,978,000 after acquiring an additional 7,339 shares during the period. OFI Invest Asset Management purchased a new position in Civeo during the 2nd quarter valued at $930,000. Raymond James & Associates increased its stake in Civeo by 0.8% in the second quarter. Raymond James & Associates now owns 67,555 shares of the business services provider’s stock worth $1,683,000 after purchasing an additional 561 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Civeo by 58.1% in the second quarter. Acadian Asset Management LLC now owns 226,334 shares of the business services provider’s stock worth $5,634,000 after purchasing an additional 83,145 shares during the period. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Civeo Stock Performance

Shares of NYSE:CVEO opened at $22.73 on Monday. The firm’s 50 day simple moving average is $25.89 and its 200-day simple moving average is $25.78. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.36. Civeo Co. has a one year low of $21.44 and a one year high of $28.92. The firm has a market cap of $312.99 million, a PE ratio of 16.24 and a beta of 2.04.

Civeo (NYSE:CVEO) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported ($0.36) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.38). Civeo had a return on equity of 0.11% and a net margin of 3.00%. The firm had revenue of $176.34 million for the quarter, compared to analysts’ expectations of $172.59 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. As a group, equities analysts predict that Civeo Co. will post -0.58 EPS for the current year.

Civeo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 25th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend is Monday, November 25th. Civeo’s dividend payout ratio (DPR) is presently 71.43%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Civeo from a “buy” rating to a “strong-buy” rating in a report on Friday, November 29th.

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.