Civeo (CVEO) Trading 16.9% Higher

Civeo Corp (NYSE:CVEO) shares traded up 16.9% on Wednesday . The stock traded as high as $2.15 and last traded at $2.14. 1,378,189 shares were traded during trading, an increase of 99% from the average session volume of 691,281 shares. The stock had previously closed at $1.83.

Several research analysts have recently weighed in on the stock. TheStreet lowered shares of Civeo from a “c-” rating to a “d” rating in a report on Wednesday, October 31st. Craig Hallum set a $4.00 price target on shares of Civeo and gave the company a “buy” rating in a report on Wednesday, October 31st. Stifel Nicolaus set a $5.00 price target on shares of Civeo and gave the company a “buy” rating in a report on Friday, September 28th. Finally, ValuEngine upgraded shares of Civeo from a “hold” rating to a “buy” rating in a report on Thursday, September 27th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $4.50.

The company has a current ratio of 1.53, a quick ratio of 1.46 and a debt-to-equity ratio of 0.77. The stock has a market cap of $359.46 million, a PE ratio of -3.12 and a beta of 3.60.

Civeo (NYSE:CVEO) last issued its quarterly earnings data on Wednesday, October 31st. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.02). Civeo had a negative net margin of 25.69% and a negative return on equity of 20.55%. The firm had revenue of $120.49 million during the quarter, compared to analyst estimates of $124.30 million. On average, research analysts predict that Civeo Corp will post -0.28 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the business. Teachers Advisors LLC acquired a new stake in Civeo in the third quarter valued at approximately $53,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Civeo in the second quarter valued at approximately $145,000. AQR Capital Management LLC acquired a new stake in Civeo in the third quarter valued at approximately $153,000. Citadel Advisors LLC grew its position in Civeo by 857.0% in the second quarter. Citadel Advisors LLC now owns 81,343 shares of the business services provider’s stock valued at $354,000 after acquiring an additional 72,843 shares in the last quarter. Finally, BlackRock Inc. grew its position in Civeo by 2,735,060.0% in the second quarter. BlackRock Inc. now owns 136,758 shares of the business services provider’s stock valued at $597,000 after acquiring an additional 136,753 shares in the last quarter. 66.69% of the stock is owned by institutional investors.

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Civeo Company Profile (NYSE:CVEO)

Civeo Corporation offers workforce accommodation, logistics, and facility management services to the natural resource industry in Canada, Australia, the United States, and internationally. The company develops lodges and villages; open camps; and mobile camps, including modular, skid-mounted accommodation, and central facilities that provide long-term and temporary work force accommodations.

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