Civeo (NYSE:CVEO) Lowered to "Sell" Rating by Wall Street Zen

Civeo (NYSE:CVEO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Separately, Stifel Nicolaus cut their price objective 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 Price Performance

Shares of CVEO traded down $0.27 during mid-day trading on Friday, hitting $22.10. 74,359 shares of the company were exchanged, compared to its average volume of 73,677. Civeo has a 1-year low of $18.01 and a 1-year high of $28.92. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.59 and a current ratio of 1.66. The company has a 50 day moving average of $20.76 and a 200-day moving average of $22.26. The stock has a market cap of $297.25 million, a price-to-earnings ratio of -13.64 and a beta of 1.38.

Civeo (NYSE:CVEO - Get Free Report) last announced its earnings results 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 negative return on equity of 7.23% and a negative net margin of 3.30%. The business had revenue of $144.04 million during the quarter, compared to analysts' expectations of $150.86 million. Analysts expect that Civeo will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Civeo

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC increased 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 worth $2,445,000 after purchasing an additional 5,570 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Civeo during the 1st quarter worth approximately $204,000. Engine Capital Management LP acquired a new stake in Civeo during the first quarter worth $30,777,000. Bridgeway Capital Management LLC increased its stake in Civeo by 34.0% during the first quarter. Bridgeway Capital Management LLC now owns 253,973 shares of the business services provider's stock worth $5,841,000 after acquiring an additional 64,470 shares during the last quarter. Finally, Clough Capital Partners L P acquired a new stake in Civeo during the first quarter worth $728,000. 81.44% of the stock is currently owned by institutional investors and hedge funds.

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.