Civeo (NYSE:CVEO) Upgraded 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 report released on Saturday.

Civeo Stock Performance

CVEO stock opened at $21.69 on Friday. Civeo has a 1-year low of $21.15 and a 1-year high of $28.92. The business has a 50-day moving average price of $24.93 and a 200 day moving average price of $25.67. The company has a market capitalization of $298.74 million, a P/E ratio of 15.49 and a beta of 2.03. 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 posted 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 net margin of 3.00% and a return on equity of 0.11%. The business had revenue of $176.34 million for the quarter, compared to analysts’ expectations of $172.59 million. During the same period last year, the business posted $0.61 EPS. As a group, equities research analysts forecast that Civeo will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. FMR LLC grew its stake in Civeo by 3.4% in the third quarter. FMR LLC now owns 1,524,352 shares of the business services provider’s stock valued at $41,767,000 after purchasing an additional 50,400 shares during the last quarter. Royce & Associates LP grew its position in shares of Civeo by 19.0% in the 3rd quarter. Royce & Associates LP now owns 93,931 shares of the business services provider’s stock worth $2,574,000 after buying an additional 15,002 shares during the last quarter. Meros Investment Management LP bought a new position in shares of Civeo during the 3rd quarter worth approximately $2,332,000. American Century Companies Inc. raised its stake in shares of Civeo by 22.4% during the 2nd quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider’s stock worth $6,355,000 after acquiring an additional 46,633 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Civeo during the second quarter valued at approximately $128,000. 81.44% of the stock is owned by institutional investors.

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.