Stifel Nicolaus Increases Civeo (NYSE:CVEO) Price Target to $37.00

Civeo (NYSE:CVEO) had its price target lifted by stock analysts at Stifel Nicolaus from $33.00 to $37.00 in a report released on Wednesday, MarketBeat.com reports. The firm currently has a “buy” rating on the business services provider’s stock. Stifel Nicolaus’ price target points to a potential upside of 27.50% from the company’s previous close.

A number of other research analysts have also issued reports on the company. Zacks Research raised Civeo from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Weiss Ratings restated a “sell (d)” rating on shares of Civeo in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $37.00.

Civeo Price Performance

NYSE CVEO opened at $29.02 on Wednesday. Civeo has a 12 month low of $18.01 and a 12 month high of $29.68. The firm has a market capitalization of $317.77 million, a PE ratio of -18.48 and a beta of 0.57. The company’s 50 day simple moving average is $26.00 and its 200 day simple moving average is $23.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.54 and a quick ratio of 1.57.

Civeo (NYSE:CVEO) last issued its quarterly earnings results on Tuesday, March 3rd. The business services provider reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.15). Civeo had a negative net margin of 3.14% and a negative return on equity of 10.20%. The firm had revenue of $161.62 million for the quarter, compared to the consensus estimate of $170.17 million. As a group, equities research analysts forecast that Civeo will post -0.58 EPS for the current fiscal year.

Insider Activity at Civeo

In related news, major shareholder Engine Capital Management, Lp sold 9,169 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $29.03, for a total value of $266,176.07. Following the completion of the transaction, the insider owned 65,461 shares in the company, valued at $1,900,332.83. This trade represents a 12.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Civeo

A number of hedge funds have recently bought and sold shares of CVEO. Empowered Funds LLC boosted its holdings in shares of Civeo by 5.5% in the fourth quarter. Empowered Funds LLC now owns 109,216 shares of the business services provider’s stock worth $2,498,000 after buying an additional 5,702 shares during the period. ExodusPoint Capital Management LP purchased a new stake in shares of Civeo in the 4th quarter valued at approximately $573,000. Charles Schwab Investment Management Inc. boosted its stake in Civeo by 38.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 189,057 shares of the business services provider’s stock worth $4,324,000 after purchasing an additional 52,660 shares during the period. Boston Partners grew its position in Civeo by 12.4% during the 4th quarter. Boston Partners now owns 161,911 shares of the business services provider’s stock worth $3,703,000 after purchasing an additional 17,871 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Civeo by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 628,158 shares of the business services provider’s stock valued at $14,366,000 after purchasing an additional 9,784 shares during the period. 81.44% of the stock is owned by hedge funds and other institutional investors.

Civeo Company Profile

Civeo Corporation is a leading provider of workforce accommodations and integrated facility management services, primarily serving the oil and gas, mining, and construction sectors. The company specializes in the development, ownership, and operation of remote lodging facilities, commonly known as “man camps,” designed to house workers in geographically challenging environments. Its services include turnkey accommodations, catering, housekeeping, grounds maintenance, and logistical support, tailored to meet the needs of large-scale energy and resource projects.

With a network of lodges and villages across North America and Australia, Civeo caters to clients operating in regions such as Alberta’s oil sands, the Bakken shale play, and Australia’s Pilbara and Bowen Basin mining districts.