Stifel Nicolaus Increases Civeo (NYSE:CVEO) Price Target to $37.00

Civeo (NYSE:CVEOGet Free Report) had its target price boosted by stock analysts at Stifel Nicolaus from $33.00 to $37.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Stifel Nicolaus’ target price suggests a potential upside of 37.91% from the company’s current price.

Several other equities analysts have also issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Civeo in a research report on Monday, December 29th. Zacks Research upgraded shares of Civeo from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $37.00.

Check Out Our Latest Stock Analysis on Civeo

Civeo Stock Performance

Shares of CVEO opened at $26.83 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 1.64 and a debt-to-equity ratio of 1.03. The stock has a market cap of $309.08 million, a P/E ratio of -12.72 and a beta of 0.57. The business’s 50 day moving average price is $25.78 and its 200-day moving average price is $23.62. Civeo has a 52 week low of $18.01 and a 52 week high of $29.33.

Civeo (NYSE:CVEOGet Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The business services provider reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.15). The company had revenue of $161.62 million for the quarter, compared to the consensus estimate of $170.17 million. Civeo had a negative net margin of 4.57% and a negative return on equity of 12.10%. Equities research analysts anticipate that Civeo will post -0.58 earnings per share for the current fiscal year.

Insider Activity at Civeo

In other news, major shareholder Engine Capital Management, Lp sold 9,169 shares of Civeo stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $29.03, for a total value of $266,176.07. Following the completion of the sale, the insider directly owned 65,461 shares in the company, valued at $1,900,332.83. The trade was a 12.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Civeo

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Civeo by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 628,158 shares of the business services provider’s stock valued at $14,366,000 after buying an additional 9,784 shares during the last quarter. American Century Companies Inc. increased its position in Civeo by 7.4% during the second quarter. American Century Companies Inc. now owns 470,826 shares of the business services provider’s stock valued at $10,871,000 after acquiring an additional 32,452 shares during the last quarter. Blue Owl Capital Holdings LP lifted its holdings in Civeo by 16.7% in the fourth quarter. Blue Owl Capital Holdings LP now owns 370,530 shares of the business services provider’s stock valued at $8,474,000 after acquiring an additional 53,119 shares during the period. Punch & Associates Investment Management Inc. boosted its position in Civeo by 0.8% in the third quarter. Punch & Associates Investment Management Inc. now owns 275,585 shares of the business services provider’s stock worth $6,338,000 after purchasing an additional 2,115 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Civeo by 38.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 189,057 shares of the business services provider’s stock valued at $4,324,000 after purchasing an additional 52,660 shares during the period. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Key Headlines Impacting Civeo

Here are the key news stories impacting Civeo this week:

Civeo Company Profile

(Get Free Report)

Civeo Corporation is a leading provider of workforce accommodations and integrated facility management services, primarily serving the oil and gas, mining, and construction sectors. The company specializes in the development, ownership, and operation of remote lodging facilities, commonly known as “man camps,” designed to house workers in geographically challenging environments. Its services include turnkey accommodations, catering, housekeeping, grounds maintenance, and logistical support, tailored to meet the needs of large-scale energy and resource projects.

With a network of lodges and villages across North America and Australia, Civeo caters to clients operating in regions such as Alberta’s oil sands, the Bakken shale play, and Australia’s Pilbara and Bowen Basin mining districts.

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