Civeo (NYSE:CVEO) Rating Reiterated by Stifel Nicolaus

Civeo (NYSE:CVEO)‘s stock had its “buy” rating reiterated by Stifel Nicolaus in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $32.00 price target on the business services provider’s stock, up from their prior price target of $31.00. Stifel Nicolaus’ price objective would indicate a potential upside of 16.49% from the company’s current price.

Separately, StockNews.com raised shares of Civeo from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 20th.

Civeo Price Performance

Shares of CVEO stock traded up $1.25 during trading hours on Wednesday, hitting $27.47. The stock had a trading volume of 16,000 shares, compared to its average volume of 51,528. The stock has a market capitalization of $401.61 million, a price-to-earnings ratio of 12.84 and a beta of 2.07. The stock’s 50-day moving average price is $24.14 and its two-hundred day moving average price is $24.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.82 and a quick ratio of 1.74. Civeo has a one year low of $17.98 and a one year high of $28.00.

Civeo (NYSE:CVEO) last announced its quarterly earnings results on Tuesday, July 30th. The business services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.35. Civeo had a net margin of 4.49% and a return on equity of 3.53%. The company had revenue of $188.71 million for the quarter, compared to analysts’ expectations of $173.70 million. During the same quarter in the previous year, the business posted $0.30 earnings per share. Equities analysts forecast that Civeo will post 0.54 EPS for the current year.

Institutional Trading of Civeo

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James & Associates increased its holdings in Civeo by 0.8% during the second quarter. Raymond James & Associates now owns 67,555 shares of the business services provider’s stock valued at $1,683,000 after buying an additional 561 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Civeo by 8.9% during the first quarter. Janney Montgomery Scott LLC now owns 21,119 shares of the business services provider’s stock valued at $567,000 after buying an additional 1,729 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Civeo by 42.6% during the 1st quarter. Lazard Asset Management LLC now owns 10,773 shares of the business services provider’s stock valued at $289,000 after purchasing an additional 3,220 shares during the last quarter. Quent Capital LLC acquired a new position in shares of Civeo during the first quarter valued at about $98,000. Finally, Wellington Management Group LLP raised its position in shares of 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 purchasing an additional 4,100 shares during the last quarter. 81.44% of the stock is currently owned by institutional investors.

About Civeo

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.