Civeo (CVEO) PT Set at $3.00 by Royal Bank of Canada

Civeo (NYSE:CVEO) has been given a $3.00 target price by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday. The brokerage presently has a “hold” rating on the business services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 25.52% from the stock’s current price.

CVEO has been the subject of a number of other research reports. BidaskClub raised shares of Civeo from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 26th. ValuEngine raised shares of Civeo from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Civeo presently has a consensus rating of “Buy” and an average price target of $4.17.

Civeo (CVEO) traded up $0.10 on Thursday, hitting $2.39. 874,300 shares of the stock traded hands, compared to its average volume of 956,813. Civeo has a one year low of $1.57 and a one year high of $3.73. The company has a quick ratio of 2.02, a current ratio of 2.09 and a debt-to-equity ratio of 0.58.

A number of hedge funds have recently added to or reduced their stakes in CVEO. ClariVest Asset Management LLC raised its holdings in shares of Civeo by 341.5% during the fourth quarter. ClariVest Asset Management LLC now owns 342,277 shares of the business services provider’s stock valued at $485,000 after acquiring an additional 264,755 shares during the period. Boston Partners raised its holdings in shares of Civeo by 25.0% during the fourth quarter. Boston Partners now owns 2,953,345 shares of the business services provider’s stock valued at $4,194,000 after acquiring an additional 590,062 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Civeo by 28.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 963,925 shares of the business services provider’s stock valued at $1,369,000 after acquiring an additional 211,300 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Civeo by 66.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,260,679 shares of the business services provider’s stock valued at $1,791,000 after acquiring an additional 502,714 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in shares of Civeo by 30.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,219,130 shares of the business services provider’s stock valued at $4,571,000 after acquiring an additional 754,864 shares during the period. 78.62% of the stock is owned by institutional investors and hedge funds.

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About Civeo

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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