Civeo (NYSE:CVEO) Rating Lowered to Buy at StockNews.com

Civeo (NYSE:CVEO) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

Separately, Stifel Nicolaus restated a “buy” rating and issued a $32.00 price objective (up from $31.00) on shares of Civeo in a research note on Wednesday, July 31st.

Civeo Stock Down 0.7 %

Shares of NYSE:CVEO traded down $0.17 on Friday, reaching $25.48. The company had a trading volume of 75,155 shares, compared to its average volume of 51,243. The stock has a market capitalization of $366.17 million, a P/E ratio of 18.20 and a beta of 2.04. The stock has a 50-day moving average price of $27.65 and a 200 day moving average price of $25.86. Civeo has a twelve month low of $20.58 and a twelve month high of $28.92. The company has a quick ratio of 1.46, a current ratio of 1.36 and a debt-to-equity ratio of 0.18.

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

Insider Activity at Civeo

In other news, SVP Allan Schoening sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $27.50, for a total value of $137,500.00. Following the sale, the senior vice president now owns 16,146 shares in the company, valued at approximately $444,015. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Civeo

Several hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its holdings in Civeo by 8.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,119 shares of the business services provider’s stock valued at $567,000 after acquiring an additional 1,729 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Civeo in the first quarter valued at $98,000. Empowered Funds LLC lifted its position in Civeo by 8.1% in the first quarter. Empowered Funds LLC now owns 84,559 shares of the business services provider’s stock worth $2,270,000 after purchasing an additional 6,300 shares during the period. Meixler Investment Management Ltd. acquired a new stake in Civeo during the first quarter worth $220,000. Finally, Acadian Asset Management LLC increased its holdings in Civeo by 242.5% in the 1st quarter. Acadian Asset Management LLC now owns 143,189 shares of the business services provider’s stock valued at $3,837,000 after buying an additional 101,378 shares during the period. Institutional investors own 81.44% 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.