Civeo (NYSE:CVEO) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Civeo (NYSE:CVEOGet Rating) from a hold rating to a strong-buy rating in a research note published on Tuesday, Zacks.com reports. The firm currently has $33.00 price target on the business services provider’s stock.

According to Zacks, “Civeo Corporation is a provider of long-term and temporary remote site accommodations, logistics and facility management services. The Company operates in active oil, coal, natural gas and iron ore producing regions, including Canada, Australia and the United States. Civeo Corporation is headquartered in Houston, Texas. “

Separately, StockNews.com started coverage on shares of Civeo in a report on Thursday, March 31st. They issued a strong-buy rating for the company.

Shares of Civeo stock opened at $29.54 on Tuesday. The company has a market cap of $419.02 million, a P/E ratio of 48.43, a PEG ratio of 9.29 and a beta of 2.98. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.30 and a current ratio of 1.36. Civeo has a one year low of $15.25 and a one year high of $30.99. The firm has a fifty day moving average of $24.34 and a two-hundred day moving average of $22.30.

Civeo (NYSE:CVEOGet Rating) last announced its quarterly earnings results on Friday, April 29th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.37. Civeo had a net margin of 1.93% and a return on equity of 6.14%. During the same period in the prior year, the firm posted ($0.70) earnings per share. As a group, equities analysts predict that Civeo will post 0.28 earnings per share for the current year.

In related news, major shareholder Lance Torgerson sold 958,475 shares of the stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $22.75, for a total value of $21,805,306.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Allan Schoening sold 5,000 shares of the stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $23.41, for a total transaction of $117,050.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,000,381 shares of company stock worth $22,747,740. 3.80% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in shares of Civeo by 812.7% during the 2nd quarter. Bank of America Corp DE now owns 1,515 shares of the business services provider’s stock worth $27,000 after purchasing an additional 1,349 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Civeo during the 1st quarter worth about $46,000. Advisor Group Holdings Inc. boosted its stake in shares of Civeo by 82.8% during the 3rd quarter. Advisor Group Holdings Inc. now owns 1,969 shares of the business services provider’s stock worth $44,000 after purchasing an additional 892 shares during the last quarter. Essex Financial Services Inc. acquired a new stake in shares of Civeo during the 3rd quarter worth about $226,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Civeo by 20.8% during the 4th quarter. JPMorgan Chase & Co. now owns 11,259 shares of the business services provider’s stock worth $215,000 after purchasing an additional 1,939 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors.

Civeo Company Profile (Get Rating)

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 accommodations, including modular, skid-mounted accommodation, and central facilities that provide long-term and temporary work force accommodations.

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