Stifel Nicolaus Cuts Civeo (NYSE:CVEO) Price Target to $27.00

Civeo (NYSE:CVEO) had its price objective lowered by Stifel Nicolaus from $28.00 to $27.00 in a research report report published on Friday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the business services provider’s stock.

Separately, StockNews.com upgraded Civeo from a “hold” rating to a “buy” rating in a research report on Thursday.

Civeo Price Performance

Shares of CVEO opened at $19.00 on Friday. Civeo has a twelve month low of $18.01 and a twelve month high of $28.92. The company has a 50 day moving average of $21.10 and a two-hundred day moving average of $23.18. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 0.18. The company has a market cap of $257.43 million, a price-to-earnings ratio of 13.57 and a beta of 1.29.

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

Institutional Investors Weigh In On Civeo

Several institutional investors have recently bought and sold shares of the company. Topline Capital Management LLC purchased a new position in shares of Civeo in the fourth quarter valued at approximately $4,663,000. Balyasny Asset Management L.P. acquired a new position in Civeo in the 4th quarter valued at $1,941,000. Arrowstreet Capital Limited Partnership lifted its holdings in Civeo by 63.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 170,118 shares of the business services provider’s stock valued at $3,865,000 after purchasing an additional 66,097 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Civeo during the 4th quarter valued at about $1,452,000. Finally, American Century Companies Inc. raised its holdings in Civeo by 15.9% in the 4th quarter. American Century Companies Inc. now owns 398,013 shares of the business services provider’s stock valued at $9,043,000 after acquiring an additional 54,532 shares during the last quarter. 81.44% of the stock is currently 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.