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

Civeo (NYSE:CVEO) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Civeo Stock Performance

Shares of Civeo stock opened at $21.69 on Friday. The business’s fifty day simple moving average is $24.93 and its 200 day simple moving average is $25.69. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. Civeo has a 12 month low of $21.15 and a 12 month high of $28.92. The firm has a market capitalization of $298.74 million, a P/E ratio of 15.49 and a beta of 2.03.

Civeo (NYSE:CVEO) last released its earnings results on Wednesday, October 30th. The business services provider reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.38). The business had revenue of $176.34 million for the quarter, compared to the consensus estimate of $172.59 million. Civeo had a return on equity of 0.11% and a net margin of 3.00%. During the same quarter in the previous year, the firm earned $0.61 earnings per share. As a group, analysts anticipate that Civeo will post -0.58 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Meros Investment Management LP purchased a new stake in shares of Civeo during the 3rd quarter valued at approximately $2,332,000. Acadian Asset Management LLC raised its stake in shares of Civeo by 58.1% during the 2nd quarter. Acadian Asset Management LLC now owns 226,334 shares of the business services provider’s stock valued at $5,634,000 after purchasing an additional 83,145 shares during the period. FMR LLC lifted its holdings in Civeo by 3.4% during the 3rd quarter. FMR LLC now owns 1,524,352 shares of the business services provider’s stock worth $41,767,000 after purchasing an additional 50,400 shares in the last quarter. American Century Companies Inc. lifted its holdings in Civeo by 22.4% during the 2nd quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider’s stock worth $6,355,000 after purchasing an additional 46,633 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Civeo by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 439,427 shares of the business services provider’s stock worth $10,950,000 after purchasing an additional 39,987 shares during the period. Hedge funds and other institutional investors own 81.44% of the company’s stock.

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.