StockNews.com Downgrades Civeo (NYSE:CVEO) to Buy

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

Separately, Stifel Nicolaus reissued a “buy” rating and set a $32.00 price objective (up previously from $31.00) on shares of Civeo in a report on Wednesday, July 31st.

Civeo Stock Down 0.5 %

Shares of CVEO stock opened at $25.51 on Friday. The stock’s 50 day simple moving average is $27.65 and its 200 day simple moving average is $25.86. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.46 and a current ratio of 1.36. Civeo has a twelve month low of $20.58 and a twelve month high of $28.92. The company has a market capitalization of $366.60 million, a price-to-earnings ratio of 18.22 and a beta of 2.04.

Insider Buying and Selling at Civeo

In other news, SVP Allan Schoening sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $27.50, for a total transaction of $137,500.00. Following the completion of the sale, the senior vice president now owns 16,146 shares in the company, valued at $444,015. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Civeo

A number of institutional investors have recently made changes to their positions in CVEO. Hillsdale Investment Management Inc. grew its stake in shares of Civeo by 2,074.8% during the first quarter. Hillsdale Investment Management Inc. now owns 139,189 shares of the business services provider’s stock worth $3,737,000 after purchasing an additional 132,789 shares during the period. Acadian Asset Management LLC boosted its position in shares of Civeo by 242.5% during the first quarter. Acadian Asset Management LLC now owns 143,189 shares of the business services provider’s stock worth $3,837,000 after buying an additional 101,378 shares during the period. American Century Companies Inc. boosted its position in shares of Civeo by 22.4% during the second quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider’s stock worth $6,355,000 after buying an additional 46,633 shares during the period. OFI Invest Asset Management bought a new stake in Civeo during the second quarter worth about $930,000. Finally, Dimensional Fund Advisors LP raised its holdings in Civeo by 10.0% during the second quarter. Dimensional Fund Advisors LP now owns 439,427 shares of the business services provider’s stock worth $10,950,000 after acquiring an additional 39,987 shares in the last quarter. 81.44% of the stock is owned by institutional investors and hedge funds.

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.