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Civeo Corporation Announces New Share Repurchase Authorization

1. Civeo Corporation authorized a new 10% share repurchase program. 2. This follows the completion of a previous 5% buyback program.

Shares Buyback
-0.61%Current Return
VS
-2%S&P 500
$22.9903/27 04:30 PM EDTEvent Start
$22.8503/28 10:44 PM EDTLatest Updated
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FAQ

Why Bullish?

Share repurchase programs typically signal management's confidence in the company's valuation. Historical examples indicate that such actions often lead to short-term price increases due to reduced share supply and positive market perceptions.

How important is it?

Share repurchase signals financial strength and boosts earnings per share, likely leading to price appreciation. This is particularly relevant as CVEO expands its buyback program, which suggests robust financial health.

Why Short Term?

Market reactions to share buybacks are usually immediate, positively affecting stock prices in the near term. For instance, similar actions by companies like Apple resulted in swift price appreciation following announcements.

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HOUSTON--(BUSINESS WIRE)--Civeo Corporation (NYSE: CVEO) announced today that its Board of Directors has authorized a new share repurchase program under which the Company may repurchase up to 10% of its total common shares outstanding over the next twelve months. The Company recently completed its previous share repurchase authorization, which was announced on September 11, 2024 and covered 5% of the then total common shares outstanding. Since the Company instituted its share repurchase program.

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