Civeo Corporation (NYSE:CVEO) Stock Rated “Moderate Buy” by Sell-Side Analysts

Shares of Civeo Corporation (NYSE:CVEO) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $42.25.

CVEO has been the topic of several analyst reports. Roth Capital initiated coverage on shares of Civeo in a report on Thursday, October 1st. They issued a “buy” rating and a $39.00 target price on the stock. Raymond James Financial cut shares of Civeo from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 1st. Weiss Ratings upgraded shares of Civeo from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, August 31st. Finally, Northland Securities initiated coverage on shares of Civeo in a research report on Thursday, October 1st. They issued an “outperform” rating and a $42.00 price objective on the stock.

Civeo Price Performance

CVEO stock opened at $27.80 on Monday. The business’s 50-day moving average is $32.56 and its two-hundred day moving average is $32.59. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.89 and a quick ratio of 1.81. The firm has a market capitalization of $287.40 million, a P/E ratio of -23.76 and a beta of 0.71. Civeo has a 1 year low of $20.59 and a 1 year high of $36.50.

Civeo (NYSE:CVEO) last announced its quarterly earnings data on Thursday, July 30th. The business services provider reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. Civeo had a negative return on equity of 7.82% and a negative net margin of 1.93%. The business had revenue of $180.02 million during the quarter, compared to the consensus estimate of $172.18 million. Analysts anticipate that Civeo will post -1.00 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Civeo

Several institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Civeo by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 639,272 shares of the business services provider’s stock worth $16,915,000 after purchasing an additional 11,114 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Civeo by 12.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 126,478 shares of the business services provider’s stock valued at $3,347,000 after buying an additional 13,564 shares in the last quarter. Sei Investments Co. raised its stake in Civeo by 104.2% in the first quarter. Sei Investments Co. now owns 71,487 shares of the business services provider’s stock valued at $1,892,000 after buying an additional 36,487 shares in the last quarter. Ritholtz Wealth Management raised its stake in Civeo by 9.4% in the first quarter. Ritholtz Wealth Management now owns 40,352 shares of the business services provider’s stock valued at $1,068,000 after buying an additional 3,470 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Civeo in the second quarter valued at $1,032,000. 81.44% of the stock is owned by hedge funds and other institutional investors.

About Civeo

Civeo Corporation is a provider of workforce accommodations and related services for the natural resources and other industries that operate in remote locations. The company develops, owns and operates workforce villages, lodges and other lodging facilities designed to house employees and contractors near work sites.

Civeo’s services include room accommodations, food services, housekeeping, facility management, logistics and transportation support. Its facilities are used by customers in sectors such as oil and gas, mining, and infrastructure development, where temporary or long-term workforce housing is needed.

Headquartered in Houston, Texas, Civeo serves customers primarily in Canada, Australia and the United States.