Civeo (NYSE:CVEO) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of Civeo (NYSE:CVEOFree Report) from a buy rating to a strong-buy rating in a research report report published on Thursday morning.

Separately, Stifel Nicolaus raised their price target on Civeo from $30.00 to $31.00 and gave the stock a buy rating in a report on Tuesday, April 30th.

View Our Latest Analysis on CVEO

Civeo Stock Performance

Civeo stock opened at $23.94 on Thursday. The firm has a market capitalization of $350.00 million, a P/E ratio of 11.35 and a beta of 2.11. The stock has a fifty day moving average price of $24.50 and a 200 day moving average price of $23.90. Civeo has a 52 week low of $17.98 and a 52 week high of $28.00. The company has a current ratio of 1.82, a quick ratio of 1.74 and a debt-to-equity ratio of 0.26.

Civeo (NYSE:CVEOGet Free Report) last announced its quarterly earnings results on Friday, April 26th. The business services provider reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.06). The firm had revenue of $166.12 million for the quarter, compared to analyst estimates of $154.73 million. Civeo had a return on equity of 3.53% and a net margin of 4.49%. Equities research analysts anticipate that Civeo will post 0.54 earnings per share for the current year.

Civeo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, May 27th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, May 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.18%. Civeo’s dividend payout ratio (DPR) is presently 47.39%.

Insiders Place Their Bets

In related news, SVP Peter Mccann sold 5,220 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $23.75, for a total transaction of $123,975.00. Following the sale, the senior vice president now owns 45,395 shares of the company’s stock, valued at approximately $1,078,131.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Civeo

Several hedge funds have recently bought and sold shares of the company. UBS Group AG increased its stake in Civeo by 6.1% in the third quarter. UBS Group AG now owns 118,190 shares of the business services provider’s stock valued at $2,450,000 after acquiring an additional 6,841 shares during the last quarter. FMR LLC increased its position in shares of Civeo by 4.5% during the third quarter. FMR LLC now owns 1,206,052 shares of the business services provider’s stock worth $25,001,000 after acquiring an additional 51,400 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Civeo by 47.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,547 shares of the business services provider’s stock worth $488,000 after acquiring an additional 7,622 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Civeo by 10.2% during the third quarter. Wellington Management Group LLP now owns 446,000 shares of the business services provider’s stock worth $9,246,000 after acquiring an additional 41,300 shares in the last quarter. Finally, Sapient Capital LLC bought a new stake in Civeo in the 4th quarter worth about $398,000. 81.44% of the stock is currently owned by institutional investors and hedge funds.

About Civeo

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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.

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