Civeo (NYSE:CVEO) Rating Increased to Strong-Buy at StockNews.com

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

Civeo Price Performance

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

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

Hedge Funds Weigh In On Civeo

A number of institutional investors and hedge funds have recently modified their holdings of CVEO. OFI Invest Asset Management bought a new stake in shares of Civeo in the 2nd quarter worth about $930,000. Royce & Associates LP lifted its stake in Civeo by 19.0% in the third quarter. Royce & Associates LP now owns 93,931 shares of the business services provider’s stock worth $2,574,000 after purchasing an additional 15,002 shares during the last quarter. American Century Companies Inc. boosted 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 period. SG Americas Securities LLC bought a new position in shares of Civeo during the second quarter valued at approximately $128,000. Finally, Quent Capital LLC purchased a new stake in shares of Civeo in the third quarter worth approximately $100,000. 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.