Civeo (NYSE:CVEO) Price Target Cut to $28.00 by Analysts at Stifel Nicolaus

Civeo (NYSE:CVEO) had its price target reduced by equities researchers at Stifel Nicolaus from $30.00 to $28.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 41.95% from the company’s previous close.

Separately, StockNews.com cut shares of Civeo from a “buy” rating to a “hold” rating in a research note on Monday, March 31st.

Civeo Stock Down 1.6 %

Shares of NYSE:CVEO traded down $0.32 during mid-day trading on Tuesday, hitting $19.73. 13,335 shares of the company traded hands, compared to its average volume of 66,089. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $22.73 and a two-hundred day moving average price of $23.96. Civeo has a 12-month low of $18.99 and a 12-month high of $28.92. The stock has a market cap of $269.33 million, a P/E ratio of 14.09 and a beta of 1.54.

Institutional Investors Weigh In On Civeo

Several large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new stake in Civeo in the fourth quarter valued at approximately $94,000. SG Americas Securities LLC increased its stake in Civeo by 42.4% in the fourth quarter. SG Americas Securities LLC now owns 6,552 shares of the business services provider’s stock valued at $149,000 after acquiring an additional 1,950 shares during the last quarter. State Street Corp bought a new stake in Civeo during the third quarter worth about $222,000. XTX Topco Ltd purchased a new position in shares of Civeo in the 3rd quarter worth about $231,000. Finally, Mackenzie Financial Corp purchased a new position in shares of Civeo during the 4th quarter valued at about $386,000. 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.