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

Civeo (NYSE:CVEO) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Separately, Stifel Nicolaus decreased their price target on shares of Civeo from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th.

Civeo Trading Up 1.7 %

NYSE:CVEO opened at $19.00 on Thursday. The firm has a 50-day simple moving average of $21.10 and a 200-day simple moving average of $23.24. Civeo has a one year low of $18.01 and a one year high of $28.92. The firm has a market cap of $257.43 million, a P/E ratio of 13.57 and a beta of 1.54. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.36.

Civeo (NYSE:CVEO) last posted its earnings results on Wednesday, April 30th. The business services provider reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.06. Civeo had a return on equity of 0.11% and a net margin of 3.00%. The company had revenue of $144.04 million during the quarter, compared to analyst estimates of $150.86 million. Equities analysts anticipate that Civeo will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Civeo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVEO. Topline Capital Management LLC acquired a new position in shares of Civeo during the fourth quarter valued at about $4,663,000. Balyasny Asset Management L.P. acquired a new position in Civeo during the 4th quarter valued at approximately $1,941,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Civeo by 63.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 170,118 shares of the business services provider’s stock worth $3,865,000 after buying an additional 66,097 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Civeo in the fourth quarter worth $1,452,000. Finally, American Century Companies Inc. lifted its stake in shares of Civeo by 15.9% during the fourth quarter. American Century Companies Inc. now owns 398,013 shares of the business services provider’s stock worth $9,043,000 after buying an additional 54,532 shares during the period. 81.44% of the stock is currently owned by hedge funds and other institutional investors.

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.