StockNews.com Upgrades Civeo (NYSE:CVEO) to Strong-Buy

Civeo (NYSE:CVEO) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.

Separately, Stifel Nicolaus upped their target price on Civeo from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th.

Civeo Trading Up 1.5 %

Shares of CVEO stock opened at $23.76 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.74 and a debt-to-equity ratio of 0.26. The stock has a market cap of $347.37 million, a P/E ratio of 11.26 and a beta of 2.11. The stock has a 50 day simple moving average of $24.58 and a 200 day simple moving average of $23.87. Civeo has a 1 year low of $17.98 and a 1 year high of $28.00.

Civeo (NYSE:CVEO) last released its earnings results on Friday, April 26th. The business services provider reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.06). Civeo had a return on equity of 3.53% and a net margin of 4.49%. The business had revenue of $166.12 million for the quarter, compared to the consensus estimate of $154.73 million. On average, research analysts predict that Civeo will post 0.54 earnings per share for the current fiscal year.

Insider Transactions at Civeo

In other news, SVP Peter Mccann sold 5,220 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $23.75, for a total transaction of $123,975.00. Following the completion of the transaction, the senior vice president now directly owns 45,395 shares in the company, valued at $1,078,131.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Civeo

A number of institutional investors and hedge funds have recently bought and sold shares of CVEO. UBS Group AG increased its holdings in Civeo by 6.1% in the third quarter. UBS Group AG now owns 118,190 shares of the business services provider’s stock valued at $2,450,000 after purchasing an additional 6,841 shares during the period. FMR LLC grew its holdings in Civeo by 4.5% during the 3rd quarter. FMR LLC now owns 1,206,052 shares of the business services provider’s stock worth $25,001,000 after acquiring an additional 51,400 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Civeo by 47.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,547 shares of the business services provider’s stock worth $488,000 after acquiring an additional 7,622 shares during the period. Wellington Management Group LLP grew its holdings in Civeo by 10.2% during the 3rd quarter. Wellington Management Group LLP now owns 446,000 shares of the business services provider’s stock worth $9,246,000 after acquiring an additional 41,300 shares during the period. Finally, Sapient Capital LLC acquired a new stake in Civeo during the 4th quarter worth about $398,000. 81.44% of the stock is currently owned by institutional investors and hedge funds.

Civeo Company Profile

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.