Civeo Corporation (CVEO) Downgraded to “Hold” at BidaskClub

BidaskClub lowered shares of Civeo Corporation (NYSE:CVEO) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

CVEO has been the subject of several other research reports. Royal Bank Of Canada set a $3.00 price target on shares of Civeo Corporation and gave the company a hold rating in a report on Sunday, October 8th. ValuEngine upgraded shares of Civeo Corporation from a sell rating to a hold rating in a report on Friday, September 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Civeo Corporation has a consensus rating of Hold and an average target price of $4.17.

Shares of Civeo Corporation (NYSE CVEO) traded down 2.00% during trading on Friday, hitting $1.96. 1,670,930 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $2.54 and a 200-day moving average price of $2.31. Civeo Corporation has a one year low of $1.10 and a one year high of $3.73. The stock’s market cap is $259.21 million.

Civeo Corporation (NYSE:CVEO) last posted its quarterly earnings results on Friday, July 28th. The business services provider reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.01. Civeo Corporation had a negative net margin of 19.92% and a negative return on equity of 13.78%. The business had revenue of $92.01 million during the quarter. Equities research analysts expect that Civeo Corporation will post ($0.52) EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. M&T Bank Corp raised its stake in shares of Civeo Corporation by 3.8% during the 2nd quarter. M&T Bank Corp now owns 67,445 shares of the business services provider’s stock worth $141,000 after acquiring an additional 2,445 shares in the last quarter. Tudor Investment Corp ET AL raised its stake in shares of Civeo Corporation by 7.0% during the 1st quarter. Tudor Investment Corp ET AL now owns 187,939 shares of the business services provider’s stock worth $562,000 after acquiring an additional 12,368 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of Civeo Corporation by 37.6% during the 2nd quarter. Alps Advisors Inc. now owns 62,857 shares of the business services provider’s stock worth $132,000 after acquiring an additional 17,186 shares in the last quarter. Morgan Stanley raised its stake in shares of Civeo Corporation by 3.5% during the 1st quarter. Morgan Stanley now owns 536,623 shares of the business services provider’s stock worth $1,605,000 after acquiring an additional 18,114 shares in the last quarter. Finally, OxFORD Asset Management LLP raised its stake in shares of Civeo Corporation by 14.8% during the 2nd quarter. OxFORD Asset Management LLP now owns 254,595 shares of the business services provider’s stock worth $535,000 after acquiring an additional 32,760 shares in the last quarter. Hedge funds and other institutional investors own 76.13% of the company’s stock.

About Civeo Corporation

Civeo Corporation is an integrated provider of long-term and temporary remote site accommodations, logistics and facility management services to the natural resource industry. The Company operates in active oil, coal, natural gas and iron ore producing regions, including Canada, Australia and the United States.

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