Civeo Corp. (CVEO) Now Covered by Loop Capital
Investment analysts at Loop Capital started coverage on shares of Civeo Corp. (NYSE:CVEO) in a report issued on Friday. The brokerage set a “buy” rating and a $2.25 price target on the stock. Loop Capital’s price target would suggest a potential upside of 90.68% from the company’s current price.
Several other research firms have also recently commented on CVEO. Howard Weil upgraded Civeo Corp. from a “sector outperform” rating to a “focus stock” rating and set a $4.00 target price on the stock in a research note on Wednesday, June 22nd. Scotiabank cut Civeo Corp. from a “focus stock” rating to an “outperform” rating and dropped their price objective for the stock from $4.00 to $3.00 in a research note on Friday, July 15th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $2.40.
Shares of Civeo Corp. (NYSE:CVEO) opened at 1.18 on Friday. The firm’s 50-day moving average is $1.19 and its 200-day moving average is $1.52. The firm’s market capitalization is $127.54 million. Civeo Corp. has a 12-month low of $0.75 and a 12-month high of $2.40.
Civeo Corp. (NYSE:CVEO) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. Civeo Corp. had a negative return on equity of 10.09% and a negative net margin of 38.58%. The business earned $107 million during the quarter, compared to analyst estimates of $99.30 million. Equities research analysts forecast that Civeo Corp. will post ($0.65) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of CVEO. TIAA CREF Investment Management LLC acquired a new position in Civeo Corp. during the first quarter worth $122,000. Brookfield Asset Management Inc. raised its position in Civeo Corp. by 75.1% in the first quarter. Brookfield Asset Management Inc. now owns 2,315,563 shares of the company’s stock worth $2,848,000 after buying an additional 993,157 shares during the last quarter. Spark Investment Management LLC raised its position in Civeo Corp. by 8.6% in the first quarter. Spark Investment Management LLC now owns 1,609,500 shares of the company’s stock worth $1,979,000 after buying an additional 127,400 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Civeo Corp. during the first quarter worth $395,000. Finally, Nordea Investment Management AB acquired a new position in Civeo Corp. during the second quarter worth $654,000. 67.97% of the stock is currently owned by institutional investors and hedge funds.
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