Civeo (NYSE:CVEO) Raised to “Strong-Buy” at StockNews.com

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

Civeo Stock Performance

Shares of CVEO opened at $23.38 on Friday. The company has a market cap of $322.01 million, a PE ratio of 16.70 and a beta of 2.06. The firm has a 50-day moving average of $26.36 and a 200-day moving average of $25.85. Civeo has a one year low of $21.44 and a one year high of $28.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.28.

Civeo (NYSE:CVEO) last announced its quarterly 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). Civeo had a return on equity of 0.11% and a net margin of 3.00%. The business had revenue of $176.34 million for the quarter, compared to analyst estimates of $172.59 million. During the same period last year, the firm earned $0.61 EPS. As a group, equities analysts forecast that Civeo will post -0.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new position in Civeo during the 3rd quarter worth $68,000. Quent Capital LLC acquired a new position in shares of Civeo in the third quarter valued at about $100,000. SG Americas Securities LLC bought a new position in Civeo during the second quarter worth about $128,000. Aristides Capital LLC acquired a new stake in Civeo in the 2nd quarter worth about $213,000. Finally, State Street Corp bought a new stake in Civeo in the 3rd quarter valued at about $222,000. Institutional investors and hedge funds own 81.44% of the company’s stock.

About Civeo

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.