Civeo (NYSE:CVEO) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of Civeo (NYSE:CVEO - Free Report) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Separately, Stifel Nicolaus decreased their price target on shares of Civeo from $28.00 to $27.00 and set a "buy" rating for the company in a report on Friday, May 2nd.

Civeo Stock Performance

Shares of NYSE CVEO traded down $0.18 during midday trading on Friday, hitting $20.62. 29,264 shares of the company's stock were exchanged, compared to its average volume of 68,484. The firm has a market cap of $277.33 million, a P/E ratio of 14.73 and a beta of 1.28. 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 has a twelve month low of $18.01 and a twelve month high of $28.92. The stock's 50 day moving average price is $20.78 and its 200-day moving average price is $22.83.

Civeo (NYSE:CVEO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported ($0.72) EPS for the quarter, beating analysts' consensus estimates of ($0.78) by $0.06. Civeo had a return on equity of 0.11% and a net margin of 3.00%. The company had revenue of $144.04 million during the quarter, compared to the consensus estimate of $150.86 million. Equities research analysts anticipate that Civeo will post -0.58 EPS for the current year.

Institutional Investors Weigh In On Civeo

Several institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd raised its holdings in shares of Civeo by 218.5% in the 4th quarter. WINTON GROUP Ltd now owns 26,256 shares of the business services provider's stock valued at $597,000 after purchasing an additional 18,013 shares during the period. OFI Invest Asset Management bought a new position in Civeo in the 4th quarter valued at about $878,000. Raymond James Financial Inc. bought a new position in Civeo in the 4th quarter valued at about $1,452,000. TCW Group Inc. raised its holdings in Civeo by 4.2% in the 4th quarter. TCW Group Inc. now owns 780,217 shares of the business services provider's stock valued at $17,727,000 after acquiring an additional 31,157 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Civeo by 63.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 170,118 shares of the business services provider's stock valued at $3,865,000 after acquiring an additional 66,097 shares during the period. 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.