Civeo Co. (NYSE:CVEO – Get Free Report) declared a quarterly dividend on Wednesday, October 30th, NASDAQ reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.95%. 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. Equities research analysts expect Civeo to earn $0.56 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 178.6%.
Civeo Stock Down 7.9 %
Shares of CVEO traded down $2.16 during midday trading on Wednesday, reaching $25.33. 184,489 shares of the company were exchanged, compared to its average volume of 50,930. The stock has a 50-day moving average price of $27.73 and a 200-day moving average price of $25.86. The company has a market cap of $370.32 million, a price-to-earnings ratio of 11.59 and a beta of 2.04. Civeo has a 1-year low of $19.10 and a 1-year high of $28.92. The company has a current ratio of 1.55, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.
Wall Street Analyst Weigh In
Separately, Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 price target (up previously from $31.00) on shares of Civeo in a research note on Wednesday, July 31st.
Get Our Latest Stock Report on CVEO
Insider Buying and Selling
In other Civeo news, SVP Allan Schoening sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $27.50, for a total transaction of $137,500.00. Following the sale, the senior vice president now owns 16,146 shares in the company, valued at $444,015. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 4.30% 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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