Civeo (CVEO) Shares Down 10.6%

Civeo Corp (NYSE:CVEO) fell 10.6% during trading on Thursday . The company traded as low as $1.40 and last traded at $1.43. 1,495,821 shares traded hands during trading, an increase of 421% from the average session volume of 287,202 shares. The stock had previously closed at $1.60.

A number of brokerages have recently commented on CVEO. Zacks Investment Research raised shares of Civeo from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Royal Bank of Canada began coverage on shares of Civeo in a research note on Thursday, March 28th. They set a “sector perform” rating and a $3.00 price objective on the stock. Finally, ValuEngine cut shares of Civeo from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Civeo currently has a consensus rating of “Hold” and a consensus target price of $4.00.

The stock has a market cap of $270.88 million, a PE ratio of -2.17 and a beta of 4.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.13 and a quick ratio of 1.09.

Civeo (NYSE:CVEO) last announced its earnings results on Friday, April 26th. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Civeo had a negative net margin of 9.25% and a negative return on equity of 8.89%. The business had revenue of $108.55 million for the quarter, compared to analysts’ expectations of $108.90 million. As a group, analysts expect that Civeo Corp will post -0.23 earnings per share for the current year.

In other news, SVP Peter Mccann sold 125,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $2.04, for a total transaction of $255,000.00. Following the transaction, the senior vice president now owns 380,005 shares in the company, valued at approximately $775,210.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 218,368 shares of company stock worth $492,527 in the last quarter. Insiders own 2.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CVEO. Chicago Partners Investment Group LLC purchased a new position in Civeo in the 1st quarter valued at $25,000. Great West Life Assurance Co. Can purchased a new position in Civeo in the 4th quarter valued at $26,000. M&T Bank Corp purchased a new position in Civeo in the 1st quarter valued at $27,000. GSA Capital Partners LLP lifted its holdings in Civeo by 64.1% in the 4th quarter. GSA Capital Partners LLP now owns 21,500 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 8,400 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC lifted its holdings in Civeo by 66.8% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 22,981 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 9,202 shares in the last quarter. Institutional investors own 65.36% of the company’s stock.

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Civeo Company Profile (NYSE:CVEO)

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

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