Civeo (NYSE:CVEO) Stock Rating Upgraded by StockNews.com

Civeo (NYSE:CVEOGet Free Report) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Civeo Price Performance

Shares of CVEO opened at $21.69 on Friday. The business has a 50-day moving average of $24.93 and a 200-day moving average of $25.69. Civeo has a 1 year low of $21.15 and a 1 year high of $28.92. The company has a market capitalization of $298.74 million, a price-to-earnings ratio of 15.49 and a beta of 2.03. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.28.

Civeo (NYSE:CVEOGet Free Report) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.38). Civeo had a return on equity of 0.11% and a net margin of 3.00%. The firm had revenue of $176.34 million for the quarter, compared to the consensus estimate of $172.59 million. During the same quarter in the previous year, the business posted $0.61 EPS. As a group, equities research analysts anticipate that Civeo will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On Civeo

A number of hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates boosted its stake in Civeo by 0.8% during the 2nd quarter. Raymond James & Associates now owns 67,555 shares of the business services provider’s stock valued at $1,683,000 after purchasing an additional 561 shares during the last quarter. Quantbot Technologies LP bought a new stake in Civeo during the third quarter worth $68,000. Quent Capital LLC purchased a new stake in Civeo in the 3rd quarter valued at $100,000. Empowered Funds LLC lifted its stake in Civeo by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 95,863 shares of the business services provider’s stock valued at $2,627,000 after acquiring an additional 4,824 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Civeo during the 2nd quarter worth $128,000. 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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