Civeo (NYSE:CVEO) Downgraded by StockNews.com to "Buy"

Civeo (NYSE:CVEO - Get Free Report) was downgraded by research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Friday.

Civeo Trading Down 2.1 %

Shares of NYSE CVEO traded down $0.48 during trading hours on Friday, reaching $22.88. The stock had a trading volume of 49,898 shares, compared to its average volume of 53,451. Civeo has a 52-week low of $21.44 and a 52-week high of $28.92. The firm has a market cap of $315.06 million, a price-to-earnings ratio of 16.34 and a beta of 2.03. The business's fifty day moving average price is $25.59 and its two-hundred day moving average price is $25.74. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18.

Civeo (NYSE:CVEO - Get Free Report) last issued its earnings results on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.38). The firm had revenue of $176.34 million during the quarter, compared to analysts' expectations of $172.59 million. Civeo had a return on equity of 0.11% and a net margin of 3.00%. During the same quarter in the prior year, the company posted $0.61 earnings per share. Analysts expect that Civeo will post -0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Civeo

A number of hedge funds and other institutional investors have recently modified their holdings of CVEO. OFI Invest Asset Management purchased a new position in Civeo in the second quarter valued at about $930,000. FMR LLC grew its position in shares of Civeo by 3.4% in the 3rd quarter. FMR LLC now owns 1,524,352 shares of the business services provider's stock worth $41,767,000 after buying an additional 50,400 shares during the last quarter. Royce & Associates LP raised its stake in shares of Civeo by 19.0% during the 3rd quarter. Royce & Associates LP now owns 93,931 shares of the business services provider's stock worth $2,574,000 after acquiring an additional 15,002 shares in the last quarter. American Century Companies Inc. lifted its position in Civeo by 22.4% during the second quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider's stock valued at $6,355,000 after acquiring an additional 46,633 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Civeo in the second quarter valued at approximately $128,000. 81.44% of the stock is currently owned by institutional investors.

Civeo Company Profile

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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