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

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

Separately, Stifel Nicolaus cut their price target on 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

CVEO traded up $0.56 during trading hours on Friday, hitting $22.19. The stock had a trading volume of 43,412 shares, compared to its average volume of 101,479. Civeo has a 1 year low of $18.01 and a 1 year high of $28.92. The company's fifty day simple moving average is $20.65 and its 200 day simple moving average is $22.35. The stock has a market cap of $298.52 million, a PE ratio of 15.85 and a beta of 1.28. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 0.18.

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

Institutional Investors Weigh In On Civeo

A number of institutional investors and hedge funds have recently modified their holdings of CVEO. Empowered Funds LLC grew its stake 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 acquiring an additional 5,570 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Civeo in the 1st quarter valued at $204,000. Engine Capital Management LP purchased a new position in shares of Civeo during the 1st quarter valued at $30,777,000. Bridgeway Capital Management LLC increased its holdings in shares of Civeo by 34.0% in the first quarter. Bridgeway Capital Management LLC now owns 253,973 shares of the business services provider's stock worth $5,841,000 after purchasing an additional 64,470 shares during the period. Finally, Clough Capital Partners L P purchased a new stake in shares of Civeo in the first quarter worth $728,000. 81.44% of the stock is owned by hedge funds and other institutional investors.

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.