Civeo (NYSE:CVEO – Get Free Report) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.
Separately, Stifel Nicolaus lifted their price target on Civeo from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday.
Read Our Latest Stock Report on Civeo
Civeo Trading Up 0.9 %
Civeo (NYSE:CVEO – Get Free Report) last posted its earnings results on Thursday, February 29th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.33. The company had revenue of $170.80 million during the quarter, compared to analysts’ expectations of $151.12 million. Civeo had a return on equity of 3.53% and a net margin of 4.49%. On average, sell-side analysts predict that Civeo will post 0.14 EPS for the current fiscal year.
Institutional Trading of Civeo
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. 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 purchasing an additional 51,400 shares in the last quarter. TCW Group Inc. increased its position in Civeo by 3.1% in the 4th quarter. TCW Group Inc. now owns 744,535 shares of the business services provider’s stock valued at $17,013,000 after acquiring an additional 22,639 shares during the period. Wellington Management Group LLP increased its position in Civeo by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 450,100 shares of the business services provider’s stock valued at $10,285,000 after acquiring an additional 4,100 shares during the period. Brown Advisory Inc. increased its position in Civeo by 13.4% in the 4th quarter. Brown Advisory Inc. now owns 358,097 shares of the business services provider’s stock valued at $8,183,000 after acquiring an additional 42,378 shares during the period. Finally, Punch & Associates Investment Management Inc. increased its position in Civeo by 3.2% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 317,823 shares of the business services provider’s stock valued at $6,588,000 after acquiring an additional 9,800 shares during the period. Institutional investors and hedge funds own 81.44% of the company’s stock.
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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