Wall Street Zen Downgrades Civeo (NYSE:CVEO) to Sell

Civeo (NYSE:CVEO) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Separately, Stifel Nicolaus decreased their target price on shares of Civeo from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd.

Civeo Trading Down 1.4%

Shares of CVEO opened at $22.18 on Friday. Civeo has a 52-week low of $18.01 and a 52-week high of $28.92. 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 firm’s fifty day moving average is $20.68 and its two-hundred day moving average is $22.28. The stock has a market cap of $298.39 million, a PE ratio of 15.84 and a beta of 1.38.

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

Institutional Trading of Civeo

A number of institutional investors and hedge funds have recently bought and sold shares of CVEO. Empowered Funds LLC increased its stake in Civeo by 5.1% during the fourth quarter. Empowered Funds LLC now owns 100,748 shares of the business services provider’s stock worth $2,289,000 after purchasing an additional 4,885 shares during the period. TCW Group Inc. increased its stake in Civeo by 4.2% during the fourth quarter. TCW Group Inc. now owns 780,217 shares of the business services provider’s stock worth $17,727,000 after purchasing an additional 31,157 shares during the period. Raymond James Financial Inc. purchased a new stake in Civeo during the fourth quarter worth about $1,452,000. OFI Invest Asset Management purchased a new stake in Civeo during the fourth quarter worth about $878,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Civeo by 25.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 72,415 shares of the business services provider’s stock worth $1,645,000 after purchasing an additional 14,583 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.