Civeo (NYSE:CVEO) Rating Increased to Strong-Buy at StockNews.com

Civeo (NYSE:CVEO) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

Separately, Stifel Nicolaus upped their price target on shares of Civeo from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th.

Civeo Stock Performance

Shares of CVEO opened at $24.22 on Tuesday. Civeo has a 12 month low of $17.98 and a 12 month high of $28.00. The stock has a fifty day moving average price of $24.94 and a 200-day moving average price of $23.82. The company has a current ratio of 1.82, a quick ratio of 1.74 and a debt-to-equity ratio of 0.26. The firm has a market cap of $354.10 million, a PE ratio of 11.48 and a beta of 2.11.

Civeo (NYSE:CVEO) last issued its quarterly earnings results on Friday, April 26th. The business services provider reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.06). Civeo had a return on equity of 3.53% and a net margin of 4.49%. The business had revenue of $166.12 million during the quarter, compared to analyst estimates of $154.73 million. Equities research analysts predict that Civeo will post 0.54 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Peter Mccann sold 5,220 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $23.75, for a total value of $123,975.00. Following the transaction, the senior vice president now owns 45,395 shares in the company, valued at approximately $1,078,131.25. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Civeo

Several hedge funds have recently added to or reduced their stakes in CVEO. Wellington Management Group LLP lifted its holdings in shares of Civeo by 10.2% in the 3rd quarter. Wellington Management Group LLP now owns 446,000 shares of the business services provider’s stock valued at $9,246,000 after buying an additional 41,300 shares during the period. FMR LLC lifted its holdings in Civeo by 4.5% in the third quarter. FMR LLC now owns 1,206,052 shares of the business services provider’s stock valued at $25,001,000 after acquiring an additional 51,400 shares during the period. Jump Financial LLC purchased a new stake in Civeo in the 4th quarter worth approximately $201,000. Sapient Capital LLC acquired a new stake in shares of Civeo during the 4th quarter worth approximately $398,000. Finally, Boston Partners grew its stake in shares of Civeo by 62.0% during the 4th quarter. Boston Partners now owns 136,247 shares of the business services provider’s stock worth $3,113,000 after purchasing an additional 52,168 shares during the period. 81.44% of the stock is owned by hedge funds and other institutional investors.

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.