Civeo Corporation (CVEO) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Civeo Corporation (NYSE:CVEO) from a hold rating to a buy rating in a report issued on Tuesday, November 7th.

A number of other brokerages have also issued reports on CVEO. Royal Bank Of Canada set a $3.00 price target on Civeo and gave the stock a hold rating in a research report on Sunday, October 8th. ValuEngine upgraded Civeo from a sell rating to a hold rating in a report on Friday, September 1st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $4.17.

Shares of Civeo (NYSE CVEO) traded up $0.03 during mid-day trading on Tuesday, reaching $2.01. The company’s stock had a trading volume of 248,930 shares, compared to its average volume of 742,873. The company has a quick ratio of 2.02, a current ratio of 2.09 and a debt-to-equity ratio of 0.58. Civeo has a one year low of $1.57 and a one year high of $3.73.

Institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in shares of Civeo by 36.9% during the second quarter. Goldman Sachs Group Inc. now owns 195,752 shares of the business services provider’s stock worth $411,000 after purchasing an additional 52,742 shares during the period. William Blair Investment Management LLC raised its position in shares of Civeo by 10.5% during the second quarter. William Blair Investment Management LLC now owns 1,132,409 shares of the business services provider’s stock worth $2,378,000 after purchasing an additional 107,288 shares during the period. Boston Partners raised its position in shares of Civeo by 81.3% during the second quarter. Boston Partners now owns 1,818,011 shares of the business services provider’s stock worth $3,818,000 after purchasing an additional 815,088 shares during the period. KCG Holdings Inc. raised its position in shares of Civeo by 76.4% during the first quarter. KCG Holdings Inc. now owns 112,757 shares of the business services provider’s stock worth $337,000 after purchasing an additional 48,831 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Civeo by 96.0% during the second quarter. PNC Financial Services Group Inc. now owns 231,043 shares of the business services provider’s stock worth $485,000 after purchasing an additional 113,162 shares during the period. Institutional investors and hedge funds own 76.35% of the company’s stock.

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About Civeo

Civeo Corporation is an integrated provider of long-term and temporary remote site accommodations, logistics and facility management services to the natural resource industry. The Company operates in active oil, coal, natural gas and iron ore producing regions, including Canada, Australia and the United States.

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