Civeo (NYSE:CVEO) Stock Rating Lowered by Wall Street Zen

Civeo (NYSE:CVEO) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Separately, Stifel Nicolaus decreased their price objective on shares of Civeo from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, May 2nd.

Civeo Stock Down 1.4%

Shares of NYSE:CVEO opened at $22.18 on Friday. The company has a market cap of $298.39 million, a price-to-earnings ratio of 15.84 and a beta of 1.38. The firm’s 50-day simple moving average is $20.68 and its 200-day simple moving average is $22.27. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 0.18. Civeo has a fifty-two week low of $18.01 and a fifty-two week high of $28.92.

Civeo (NYSE:CVEO) last issued its earnings results on Wednesday, April 30th. The business services provider reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.06. The business had revenue of $144.04 million for the quarter, compared to the consensus estimate of $150.86 million. Civeo had a net margin of 3.00% and a return on equity of 0.11%. As a group, equities research analysts predict that Civeo will post -0.58 earnings per share for the current year.

Institutional Trading of Civeo

A number of institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its holdings in 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 buying an additional 5,570 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Civeo in the first quarter valued at about $204,000. Engine Capital Management LP purchased a new stake in shares of Civeo in the first quarter valued at about $30,777,000. Bridgeway Capital Management LLC lifted its holdings in shares of Civeo by 34.0% in the first quarter. Bridgeway Capital Management LLC now owns 253,973 shares of the business services provider’s stock valued at $5,841,000 after purchasing an additional 64,470 shares in the last quarter. Finally, Clough Capital Partners L P purchased a new stake in shares of Civeo in the first quarter valued at about $728,000. Hedge funds and other institutional investors 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.