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

Civeo (NYSE:CVEOGet Free Report) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

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

Check Out Our Latest Stock Report on Civeo

Civeo Stock Down 0.1 %

NYSE CVEO opened at $24.34 on Tuesday. Civeo has a 1-year low of $17.98 and a 1-year high of $28.00. 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 stock’s 50 day moving average is $25.06 and its two-hundred day moving average is $23.81. The company has a market capitalization of $355.85 million, a price-to-earnings ratio of 11.54 and a beta of 2.11.

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

Insider Activity at Civeo

In other Civeo news, SVP Peter Mccann sold 5,220 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $23.75, for a total transaction of $123,975.00. Following the sale, the senior vice president now owns 45,395 shares of the company’s stock, valued at approximately $1,078,131.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. UBS Group AG boosted its holdings in Civeo by 6.1% in the third quarter. UBS Group AG now owns 118,190 shares of the business services provider’s stock valued at $2,450,000 after acquiring an additional 6,841 shares during the last quarter. FMR LLC lifted its position in Civeo by 4.5% during the 3rd quarter. FMR LLC now owns 1,206,052 shares of the business services provider’s stock valued at $25,001,000 after purchasing an additional 51,400 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Civeo by 47.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,547 shares of the business services provider’s stock valued at $488,000 after purchasing an additional 7,622 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Civeo by 10.2% during the 3rd quarter. Wellington Management Group LLP now owns 446,000 shares of the business services provider’s stock worth $9,246,000 after buying an additional 41,300 shares during the period. Finally, Sapient Capital LLC bought a new stake in shares of Civeo during the fourth quarter worth approximately $398,000. Institutional investors and hedge funds own 81.44% of the company’s stock.

About Civeo

(Get Free Report)

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.

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