Civeo (NYSE:CVEO) Raised to Strong-Buy at Raymond James Financial

Civeo (NYSE:CVEO) was upgraded by Raymond James Financial to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings upgraded shares of Civeo from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Civeo Stock Performance

Shares of NYSE CVEO opened at $32.53 on Tuesday. The company has a 50-day simple moving average of $33.40 and a 200-day simple moving average of $30.46. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.89 and a quick ratio of 1.81. The company has a market cap of $336.37 million, a PE ratio of -27.80 and a beta of 0.72. Civeo has a 12 month low of $19.75 and a 12 month high of $36.50.

Civeo (NYSE:CVEO) last announced its quarterly earnings data on Thursday, July 30th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.07. Civeo had a negative net margin of 1.93% and a negative return on equity of 7.82%. The business had revenue of $180.02 million for the quarter, compared to the consensus estimate of $172.18 million. On average, equities analysts anticipate that Civeo will post -0.69 earnings per share for the current year.

Institutional Trading of Civeo

Several institutional investors have recently added to or reduced their stakes in CVEO. Dimensional Fund Advisors LP boosted its position in Civeo by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 639,272 shares of the business services provider’s stock valued at $16,915,000 after purchasing an additional 11,114 shares during the period. Blue Owl Capital Holdings LP grew its stake in shares of Civeo by 16.7% in the fourth quarter. Blue Owl Capital Holdings LP now owns 370,530 shares of the business services provider’s stock worth $8,474,000 after purchasing an additional 53,119 shares in the last quarter. Punch & Associates Investment Management Inc. increased its holdings in shares of Civeo by 0.8% during the third quarter. Punch & Associates Investment Management Inc. now owns 275,585 shares of the business services provider’s stock valued at $6,338,000 after purchasing an additional 2,115 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Civeo by 38.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 189,057 shares of the business services provider’s stock valued at $4,324,000 after purchasing an additional 52,660 shares in the last quarter. Finally, Boston Partners lifted its holdings in Civeo by 12.4% in the fourth quarter. Boston Partners now owns 161,911 shares of the business services provider’s stock worth $3,703,000 after purchasing an additional 17,871 shares during the period. 81.44% of the stock is owned by institutional investors and hedge funds.

Civeo Company Profile

Civeo Corporation is a leading provider of workforce accommodations and integrated facility management services, primarily serving the oil and gas, mining, and construction sectors. The company specializes in the development, ownership, and operation of remote lodging facilities, commonly known as “man camps,” designed to house workers in geographically challenging environments. Its services include turnkey accommodations, catering, housekeeping, grounds maintenance, and logistical support, tailored to meet the needs of large-scale energy and resource projects.

With a network of lodges and villages across North America and Australia, Civeo caters to clients operating in regions such as Alberta’s oil sands, the Bakken shale play, and Australia’s Pilbara and Bowen Basin mining districts.