Civeo (NYSE:CVEO) Raised to "Hold" at Wall Street Zen

Key Points

• Civeo's stock has been upgraded from a "sell" to a "hold" rating by Wall Street Zen.
• The company's most recent earnings report showed a loss of ($0.25) EPS, falling short of expectations and indicating a negative return on equity of 12.76%.
• Institutional investors own over 81% of Civeo's stock, with several firms recently increasing their positions in the company.

Civeo (NYSE:CVEO - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Friday.

Civeo Stock Up 0.2%

CVEO traded up $0.04 on Friday, reaching $22.62. 40,207 shares of the company traded hands, compared to its average volume of 61,715. The stock's 50 day moving average price is $23.31 and its 200-day moving average price is $22.22. Civeo has a 52-week low of $18.01 and a 52-week high of $28.23. The company has a market cap of $283.82 million, a price-to-earnings ratio of -9.31 and a beta of 1.30. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.51 and a quick ratio of 1.45.

Civeo (NYSE:CVEO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The business services provider reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.22). Civeo had a negative return on equity of 12.76% and a negative net margin of 5.25%.The firm had revenue of $162.69 million for the quarter, compared to the consensus estimate of $166.38 million. During the same period in the prior year, the company posted $0.57 earnings per share. Civeo has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Civeo will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Civeo by 5.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,029 shares of the business services provider's stock valued at $855,000 after purchasing an additional 1,759 shares during the last quarter. State of Wyoming purchased a new position in shares of Civeo during the second quarter valued at approximately $66,000. BNP Paribas Financial Markets purchased a new stake in Civeo in the fourth quarter worth $94,000. Empowered Funds LLC boosted its holdings in Civeo by 5.5% in the first quarter. Empowered Funds LLC now owns 106,318 shares of the business services provider's stock worth $2,445,000 after acquiring an additional 5,570 shares in the last quarter. Finally, Topline Capital Management LLC lifted its holdings in shares of Civeo by 3.7% during the first quarter. Topline Capital Management LLC now owns 212,823 shares of the business services provider's stock valued at $4,895,000 after purchasing an additional 7,577 shares in the last quarter. Institutional investors and hedge funds own 81.44% of the company's stock.

Civeo Company Profile

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.

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