StockNews.com Upgrades Civeo (NYSE:CVEO) to Strong-Buy

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

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

Civeo Trading Up 0.3 %

NYSE CVEO opened at $24.80 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 1.82 and a debt-to-equity ratio of 0.26. Civeo has a twelve month low of $17.98 and a twelve month high of $28.00. The firm has a market capitalization of $362.58 million, a PE ratio of 11.75 and a beta of 2.21. The stock’s 50 day moving average is $25.41 and its 200 day moving average is $23.35.

Civeo (NYSE:CVEO) last released its quarterly earnings results on Thursday, February 29th. The business services provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.33. The company had revenue of $170.80 million for the quarter, compared to analyst estimates of $151.12 million. Civeo had a return on equity of 3.53% and a net margin of 4.49%. Research analysts forecast that Civeo will post 0.47 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Peter Mccann sold 5,220 shares of Civeo 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 completion of the sale, the senior vice president now directly owns 45,395 shares in the company, valued at $1,078,131.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.30% of the company’s stock.

Institutional Trading of Civeo

A number of large investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Civeo by 4.5% in the third quarter. FMR LLC now owns 1,206,052 shares of the business services provider’s stock worth $25,001,000 after buying an additional 51,400 shares during the last quarter. TCW Group Inc. lifted its holdings in Civeo by 3.1% during the fourth quarter. TCW Group Inc. now owns 744,535 shares of the business services provider’s stock valued at $17,013,000 after purchasing an additional 22,639 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Civeo by 0.9% during the fourth quarter. Wellington Management Group LLP now owns 450,100 shares of the business services provider’s stock valued at $10,285,000 after purchasing an additional 4,100 shares in the last quarter. Brown Advisory Inc. lifted its holdings in Civeo by 13.4% during the fourth quarter. Brown Advisory Inc. now owns 358,097 shares of the business services provider’s stock valued at $8,183,000 after purchasing an additional 42,378 shares in the last quarter. Finally, Boston Partners lifted its holdings in Civeo by 62.0% during the fourth quarter. Boston Partners now owns 136,247 shares of the business services provider’s stock valued at $3,113,000 after purchasing an additional 52,168 shares in the last quarter. 81.44% of the stock is currently owned by institutional investors.

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.