Civeo (NYSE:CVEO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.
According to Zacks, “Civeo Corporation is a provider of long-term and temporary remote site accommodations, logistics and facility management services. The Company operates in active oil, coal, natural gas and iron ore producing regions, including Canada, Australia and the United States. Civeo Corporation is headquartered in Houston, Texas. “
CVEO has been the topic of several other reports. Royal Bank of Canada upped their target price on shares of Civeo from $0.60 to $0.80 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. ValuEngine cut shares of Civeo from a “buy” rating to a “hold” rating in a research report on Tuesday, August 4th.
Shares of CVEO stock opened at $0.68 on Tuesday. The stock has a market cap of $115.16 million, a P/E ratio of -0.67 and a beta of 3.77. Civeo has a 52 week low of $0.34 and a 52 week high of $1.54. The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 0.96. The company’s fifty day simple moving average is $0.83 and its two-hundred day simple moving average is $0.62.
Civeo (NYSE:CVEO) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.13. The business had revenue of $114.70 million for the quarter, compared to analysts’ expectations of $92.40 million. Civeo had a negative net margin of 30.17% and a negative return on equity of 0.23%.
Institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd purchased a new stake in Civeo in the 2nd quarter worth about $52,000. JPMorgan Chase & Co. raised its position in Civeo by 22.5% in the 1st quarter. JPMorgan Chase & Co. now owns 324,449 shares of the business services provider’s stock worth $134,000 after purchasing an additional 59,629 shares during the period. Balyasny Asset Management LLC purchased a new stake in Civeo in the 2nd quarter worth about $118,000. Horizon Kinetics Asset Management LLC raised its position in Civeo by 16.4% in the 1st quarter. Horizon Kinetics Asset Management LLC now owns 42,495,252 shares of the business services provider’s stock worth $17,504,000 after purchasing an additional 6,001,656 shares during the period. Finally, Prescott Group Capital Management L.L.C. raised its position in Civeo by 29.1% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 11,050,135 shares of the business services provider’s stock worth $6,812,000 after purchasing an additional 2,487,951 shares during the period. 59.67% of the stock is currently owned by institutional investors.
About Civeo
Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, the United States, and internationally. The company develops lodges and villages; and mobile accommodations, including modular, skid-mounted accommodation, and central facilities that provide long-term and temporary work force accommodations.
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