Civeo (NYSE:CVEO) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of Civeo (NYSE:CVEO) from a buy rating to a hold rating in a research note issued to investors on Friday.

Separately, Stifel Nicolaus cut their price target on shares of Civeo from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, May 2nd.

Civeo Stock Performance

Shares of CVEO opened at $20.86 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.36. The stock has a 50 day moving average price of $20.81 and a two-hundred day moving average price of $22.90. The firm has a market capitalization of $280.63 million, a P/E ratio of 14.90 and a beta of 1.28. Civeo has a 52 week low of $18.01 and a 52 week high of $28.92.

Civeo (NYSE:CVEO) last announced its earnings results on Wednesday, April 30th. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.06. The company had revenue of $144.04 million for the quarter, compared to analysts’ expectations of $150.86 million. Civeo had a return on equity of 0.11% and a net margin of 3.00%. Equities analysts forecast that Civeo will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of Civeo

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC grew its stake in Civeo by 42.4% in the 4th quarter. SG Americas Securities LLC now owns 6,552 shares of the business services provider’s stock valued at $149,000 after purchasing an additional 1,950 shares during the period. Empowered Funds LLC boosted its holdings in shares of Civeo by 5.1% in the 4th quarter. Empowered Funds LLC now owns 100,748 shares of the business services provider’s stock worth $2,289,000 after buying an additional 4,885 shares during the last quarter. TCW Group Inc. grew its position in Civeo by 4.2% during the fourth quarter. TCW Group Inc. now owns 780,217 shares of the business services provider’s stock valued at $17,727,000 after buying an additional 31,157 shares during the period. Raymond James Financial Inc. purchased a new stake in Civeo during the fourth quarter worth about $1,452,000. Finally, OFI Invest Asset Management bought a new stake in Civeo in the fourth quarter worth about $878,000. 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.