Civeo (NYSE:CVEO) Rating Increased to Hold at Zacks Research

Civeo (NYSE:CVEO) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Several other research analysts have also commented on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Civeo in a research note on Wednesday. Wall Street Zen raised shares of Civeo from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Civeo currently has a consensus rating of “Hold” and an average price target of $27.00.

Civeo Trading Up 0.9%

Shares of NYSE CVEO opened at $21.68 on Thursday. The stock has a fifty day simple moving average of $22.12 and a 200-day simple moving average of $22.56. Civeo has a twelve month low of $18.01 and a twelve month high of $27.55. The company has a current ratio of 1.51, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $249.59 million, a PE ratio of -8.92 and a beta of 1.22.

Civeo (NYSE:CVEO) last announced its earnings results on Friday, October 31st. The business services provider reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.24). The firm had revenue of $170.49 million for the quarter, compared to analysts’ expectations of $177.04 million. Civeo had a negative net margin of 5.25% and a negative return on equity of 12.76%. Civeo has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Civeo will post -0.58 earnings per share for the current year.

Institutional Trading of Civeo

Hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Civeo by 5.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,029 shares of the business services provider’s stock worth $855,000 after acquiring an additional 1,759 shares during the last quarter. Punch & Associates Investment Management Inc. increased its position in shares of Civeo by 0.8% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 275,585 shares of the business services provider’s stock valued at $6,338,000 after purchasing an additional 2,115 shares during the last quarter. State of Wyoming acquired a new stake in shares of Civeo in the 2nd quarter valued at $66,000. Quent Capital LLC purchased a new stake in shares of Civeo during the 3rd quarter worth $79,000. Finally, Empowered Funds LLC grew its stake 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 worth $2,445,000 after purchasing an additional 5,570 shares in the last quarter. Institutional investors and hedge funds own 81.44% of the company’s stock.

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.