Civeo (NYSE:CVEO) Stock Rating Upgraded by Raymond James Financial

Civeo (NYSE:CVEO) was upgraded by investment analysts at Raymond James Financial to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings upgraded Civeo from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.00.

Civeo Stock Up 5.3%

Shares of Civeo stock opened at $32.53 on Tuesday. Civeo has a 1-year low of $19.75 and a 1-year high of $36.50. The company has a market capitalization of $336.37 million, a PE ratio of -27.80 and a beta of 0.72. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.89 and a quick ratio of 1.81. The business has a 50-day moving average of $33.40 and a 200-day moving average of $30.46.

Civeo (NYSE:CVEO) last released its quarterly earnings results on Thursday, July 30th. The business services provider reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.07. The business had revenue of $180.02 million for the quarter, compared to analysts’ expectations of $172.18 million. Civeo had a negative return on equity of 7.82% and a negative net margin of 1.93%. As a group, equities analysts forecast that Civeo will post -0.69 EPS for the current fiscal year.

Institutional Trading of Civeo

Institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. acquired a new position in shares of Civeo in the 1st quarter valued at about $204,000. Empowered Funds LLC grew its holdings in shares of 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 purchasing an additional 5,570 shares during the last quarter. State of Wyoming acquired a new stake in shares of Civeo during the 2nd quarter worth approximately $66,000. Dimensional Fund Advisors LP lifted its holdings in shares of Civeo by 1.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 618,374 shares of the business services provider’s stock worth $14,222,000 after purchasing an additional 9,870 shares during the last quarter. Finally, Boston Partners boosted its position in Civeo by 8.6% during the 3rd quarter. Boston Partners now owns 144,040 shares of the business services provider’s stock valued at $3,313,000 after purchasing an additional 11,432 shares during the period. 81.44% of the stock is owned by institutional investors and hedge funds.

About Civeo

Civeo Corporation is a leading provider of workforce accommodations and integrated facility management services, primarily serving the oil and gas, mining, and construction sectors. The company specializes in the development, ownership, and operation of remote lodging facilities, commonly known as “man camps,” designed to house workers in geographically challenging environments. Its services include turnkey accommodations, catering, housekeeping, grounds maintenance, and logistical support, tailored to meet the needs of large-scale energy and resource projects.

With a network of lodges and villages across North America and Australia, Civeo caters to clients operating in regions such as Alberta’s oil sands, the Bakken shale play, and Australia’s Pilbara and Bowen Basin mining districts.