Civeo Corporation (NYSE:CVEO) Receives Average Rating of “Moderate Buy” from Brokerages

Civeo Corporation (NYSE:CVEO) has been given an average rating of “Moderate Buy” by the six ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $42.25.

A number of research firms have recently issued reports on CVEO. Raymond James Financial assumed coverage on Civeo in a research report on Tuesday, August 4th. They set a “strong-buy” rating and a $51.00 price target on the stock. Northland Securities initiated coverage on shares of Civeo in a report on Thursday. They issued an “outperform” rating and a $42.00 price target for the company. Roth Capital assumed coverage on shares of Civeo in a research note on Thursday. They set a “buy” rating and a $39.00 price objective on the stock. Finally, Weiss Ratings upgraded Civeo from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, August 31st.

Hedge Funds Weigh In On Civeo

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP bought a new position in Civeo in the second quarter worth about $217,000. Bank of New York Mellon Corp bought a new stake in shares of Civeo in the 2nd quarter valued at about $1,032,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Civeo in the 1st quarter worth approximately $217,000. Arrowstreet Capital Limited Partnership grew its position in shares of Civeo by 12.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 126,478 shares of the business services provider’s stock worth $3,347,000 after buying an additional 13,564 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Civeo by 104.2% during the 1st quarter. Sei Investments Co. now owns 71,487 shares of the business services provider’s stock worth $1,892,000 after acquiring an additional 36,487 shares in the last quarter. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Civeo Stock Up 0.8%

Shares of NYSE CVEO opened at $32.65 on Thursday. Civeo has a 52-week low of $19.75 and a 52-week high of $36.50. The firm has a market capitalization of $337.62 million, a price-to-earnings ratio of -27.91 and a beta of 0.71. The stock has a 50 day moving average price of $33.26 and a 200 day moving average price of $32.20. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.81 and a current ratio of 1.89.

Civeo (NYSE:CVEO) last released its quarterly earnings data on Thursday, July 30th. The business services provider reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.07. The company had revenue of $180.02 million for the quarter, compared to the consensus estimate of $172.18 million. Civeo had a negative return on equity of 7.82% and a negative net margin of 1.93%. Sell-side analysts expect that Civeo will post -0.83 earnings per share for the current year.

About Civeo

Civeo Corporation provides workforce accommodations and related hospitality services for companies operating in remote and challenging environments. Its customers primarily include businesses in the natural resources, mining, energy and infrastructure industries.

The company operates workforce villages, lodges and mobile camps, offering rooms and lodging along with catering, housekeeping, facility management, maintenance, transportation and other support services. These integrated services are designed to support employees working at remote project sites and production locations.

Civeo serves customers primarily in Australia and Canada, where it operates accommodations and provides hospitality services in resource-producing regions.