Civeo (NYSE:CVEO) Upgraded to Strong-Buy at Raymond James Financial

Raymond James Financial upgraded shares of Civeo (NYSE:CVEO) to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

Separately, Weiss Ratings raised Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Civeo Price Performance

Shares of CVEO opened at $32.53 on Tuesday. The company has a current ratio of 1.89, a quick ratio of 1.81 and a debt-to-equity ratio of 1.31. The company’s fifty day simple moving average is $33.40 and its 200 day simple moving average is $30.46. Civeo has a 1-year low of $19.75 and a 1-year high of $36.50. The company has a market cap of $336.37 million, a price-to-earnings ratio of -27.80 and a beta of 0.72.

Civeo (NYSE:CVEO) last released its quarterly earnings data on Thursday, July 30th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. The company had revenue of $180.02 million for the quarter, compared to analysts’ expectations of $172.18 million. Civeo had a negative net margin of 1.93% and a negative return on equity of 7.82%. On average, research analysts forecast that Civeo will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CVEO. Goldman Sachs Group Inc. bought a new stake in shares of Civeo during the 1st quarter worth $204,000. Empowered Funds LLC grew its position in Civeo by 5.5% during the first quarter. Empowered Funds LLC now owns 106,318 shares of the business services provider’s stock valued at $2,445,000 after buying an additional 5,570 shares during the period. State of Wyoming purchased a new stake in Civeo during the second quarter worth about $66,000. Dimensional Fund Advisors LP raised its position in Civeo by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 618,374 shares of the business services provider’s stock worth $14,222,000 after acquiring an additional 9,870 shares during the period. Finally, Boston Partners raised its position in Civeo by 8.6% in the third quarter. Boston Partners now owns 144,040 shares of the business services provider’s stock worth $3,313,000 after acquiring an additional 11,432 shares during the period. Institutional investors own 81.44% of the company’s stock.

About Civeo

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.