Civeo Corporation (CVEO) Upgraded by BidaskClub to Buy
Civeo Corporation (NYSE:CVEO) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Saturday.
A number of other equities analysts also recently weighed in on the company. Royal Bank Of Canada reiterated a “hold” rating and issued a $3.50 target price on shares of Civeo Corporation in a report on Friday, May 19th. ValuEngine downgraded Civeo Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, May 26th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $3.69.
Civeo Corporation (CVEO) traded down 2.20% during midday trading on Friday, reaching $2.22. 562,578 shares of the company were exchanged. The stock’s market capitalization is $293.59 million. Civeo Corporation has a 52-week low of $1.00 and a 52-week high of $3.73. The firm’s 50-day moving average price is $1.92 and its 200 day moving average price is $2.43.
Civeo Corporation (NYSE:CVEO) last issued its earnings results on Friday, July 28th. The business services provider reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $92.01 million for the quarter. Civeo Corporation had a negative return on equity of 12.63% and a negative net margin of 24.80%. Equities analysts predict that Civeo Corporation will post ($0.52) earnings per share for the current year.
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A number of large investors have recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in Civeo Corporation by 36.5% in the first quarter. FMR LLC now owns 17,246,446 shares of the business services provider’s stock worth $51,567,000 after buying an additional 4,608,507 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Civeo Corporation by 12.2% in the first quarter. Renaissance Technologies LLC now owns 7,518,000 shares of the business services provider’s stock worth $22,479,000 after buying an additional 817,000 shares during the last quarter. Prescott Group Capital Management L.L.C. increased its holdings in Civeo Corporation by 0.7% in the second quarter. Prescott Group Capital Management L.L.C. now owns 5,696,550 shares of the business services provider’s stock worth $11,963,000 after buying an additional 41,348 shares during the last quarter. Arosa Capital Management LP acquired a new position in Civeo Corporation in the first quarter worth approximately $13,251,000. Finally, Marathon Asset Management LP increased its holdings in Civeo Corporation by 66.3% in the first quarter. Marathon Asset Management LP now owns 3,448,957 shares of the business services provider’s stock worth $10,312,000 after buying an additional 1,375,000 shares during the last quarter. Hedge funds and other institutional investors own 76.16% of the company’s stock.
About Civeo Corporation
Civeo Corporation is an integrated provider of long-term and temporary remote site accommodations, logistics and facility management services to the natural resource industry. The Company operates in active oil, coal, natural gas and iron ore producing regions, including Canada, Australia and the United States.
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