Civeo (NYSE:CVEO) Upgraded by StockNews.com to “Strong-Buy” Rating

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

Civeo Price Performance

CVEO remained flat at $23.28 during trading on Friday. 39,280 shares of the company’s stock traded hands, compared to its average volume of 52,309. The stock has a 50 day moving average price of $26.36 and a 200 day moving average price of $25.84. The stock has a market cap of $320.57 million, a price-to-earnings ratio of 16.63 and a beta of 2.06. Civeo has a fifty-two week low of $21.44 and a fifty-two week high of $28.92. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.36.

Civeo (NYSE:CVEO) last announced 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). Civeo had a return on equity of 0.11% and a net margin of 3.00%. The company had revenue of $176.34 million during the quarter, compared to the consensus estimate of $172.59 million. During the same period in the prior year, the business posted $0.61 earnings per share. Equities research analysts expect that Civeo will post -0.58 EPS for the current fiscal year.

Institutional Trading of Civeo

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Meros Investment Management LP purchased a new stake in shares of Civeo during the third quarter worth about $2,332,000. Acadian Asset Management LLC grew its holdings in 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 buying an additional 83,145 shares in the last quarter. FMR LLC grew 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 valued at $41,767,000 after buying an additional 50,400 shares in the last quarter. American Century Companies Inc. raised its position in shares of Civeo by 22.4% during the second quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider’s stock valued at $6,355,000 after buying an additional 46,633 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in shares of Civeo in the second quarter worth $930,000. 81.44% of the stock is owned by hedge funds and other institutional investors.

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.