Civeo Co. (NYSE:CVEO) Announces Quarterly Dividend of $0.25

Civeo Co. (NYSE:CVEO) declared a quarterly dividend on Wednesday, October 30th, NASDAQ reports. Investors of record on Monday, November 25th will be paid a dividend of 0.25 per share by the business services provider on Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 3.90%. The ex-dividend date is Monday, November 25th.

Civeo has a payout ratio of 172.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Civeo to earn $0.50 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 200.0%.

Civeo Price Performance

NYSE CVEO opened at $25.65 on Friday. The stock’s fifty day moving average price is $27.68 and its 200 day moving average price is $25.86. Civeo has a 1 year low of $19.10 and a 1 year high of $28.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.46. The company has a market cap of $368.52 million, a price-to-earnings ratio of 18.32 and a beta of 2.04.

Civeo (NYSE:CVEO) last announced its quarterly earnings data on Tuesday, July 30th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.35. The firm had revenue of $188.71 million during the quarter, compared to analysts’ expectations of $173.70 million. Civeo had a return on equity of 0.11% and a net margin of 3.00%. During the same period last year, the business posted $0.30 earnings per share. As a group, equities research analysts forecast that Civeo will post -0.36 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Allan Schoening sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $27.50, for a total transaction of $137,500.00. Following the completion of the sale, the senior vice president now owns 16,146 shares of the company’s stock, valued at approximately $444,015. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 price target (up previously from $31.00) on shares of Civeo in a report on Wednesday, July 31st.

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.