Civeo (NYSE:CVEO) Rating Increased to Strong-Buy at StockNews.com

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

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

View Our Latest Research Report on Civeo

Civeo Price Performance

CVEO opened at $23.94 on Thursday. The company has a 50-day moving average of $24.50 and a 200-day moving average of $23.89. The company has a market capitalization of $350.00 million, a P/E ratio of 11.35 and a beta of 2.11. Civeo has a 1-year low of $17.98 and a 1-year high of $28.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.74 and a current ratio of 1.82.

Civeo (NYSE:CVEOGet Free Report) last posted its earnings results on Friday, April 26th. The business services provider reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 4.49% and a return on equity of 3.53%. Equities analysts expect that Civeo will post 0.54 EPS for the current fiscal year.

Civeo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, May 27th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.18%. Civeo’s payout ratio is 47.39%.

Insiders Place Their Bets

In other news, SVP Peter Mccann sold 5,220 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $23.75, for a total transaction of $123,975.00. Following the transaction, the senior vice president now owns 45,395 shares in the company, valued at approximately $1,078,131.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CVEO. Hillsdale Investment Management Inc. boosted its position in shares of Civeo by 2,074.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 139,189 shares of the business services provider’s stock valued at $3,737,000 after acquiring an additional 132,789 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Civeo by 242.5% during the first quarter. Acadian Asset Management LLC now owns 143,189 shares of the business services provider’s stock valued at $3,837,000 after purchasing an additional 101,378 shares during the period. Boston Partners boosted its holdings in shares of Civeo by 62.0% in the fourth quarter. Boston Partners now owns 136,247 shares of the business services provider’s stock valued at $3,113,000 after buying an additional 52,168 shares during the period. FMR LLC boosted its holdings in shares of Civeo by 4.5% in the third quarter. FMR LLC now owns 1,206,052 shares of the business services provider’s stock valued at $25,001,000 after buying an additional 51,400 shares during the period. Finally, Brown Advisory Inc. lifted its position in shares of Civeo by 13.4% in the fourth quarter. Brown Advisory Inc. now owns 358,097 shares of the business services provider’s stock worth $8,183,000 after purchasing an additional 42,378 shares in the last quarter. 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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