Civeo (NYSE:CVEO) Downgraded to Sell Rating by Wall Street Zen

Civeo (NYSE:CVEO) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Separately, Stifel Nicolaus cut their price objective on shares of Civeo from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Friday, May 2nd.

Civeo Stock Down 1.4%

Shares of NYSE CVEO opened at $22.18 on Friday. Civeo has a 12-month low of $18.01 and a 12-month high of $28.92. The company has a market capitalization of $298.39 million, a PE ratio of 15.84 and a beta of 1.38. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.28. The firm’s 50-day moving average is $20.68 and its two-hundred day moving average is $22.27.

Civeo (NYSE:CVEO) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.06. The business had revenue of $144.04 million during the quarter, compared to analyst estimates of $150.86 million. Civeo had a net margin of 3.00% and a return on equity of 0.11%. Equities analysts anticipate that Civeo will post -0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Civeo

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Civeo by 4.8% in the fourth quarter. JPMorgan Chase & Co. now owns 19,707 shares of the business services provider’s stock valued at $448,000 after buying an additional 894 shares during the last quarter. LPL Financial LLC increased its position in Civeo by 11.1% during the fourth quarter. LPL Financial LLC now owns 25,687 shares of the business services provider’s stock worth $584,000 after purchasing an additional 2,575 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Civeo during the fourth quarter worth approximately $94,000. Lazard Asset Management LLC increased its position in Civeo by 24.0% during the fourth quarter. Lazard Asset Management LLC now owns 21,492 shares of the business services provider’s stock worth $488,000 after purchasing an additional 4,158 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Civeo by 5.1% during the fourth quarter. Empowered Funds LLC now owns 100,748 shares of the business services provider’s stock worth $2,289,000 after purchasing an additional 4,885 shares during the last quarter. Institutional investors and hedge funds own 81.44% of the company’s stock.

Civeo Company Profile

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.