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.
COPYRIGHT VIOLATION NOTICE: This piece was posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are viewing this piece on another domain, it was stolen and reposted in violation of international trademark & copyright laws. The correct version of this piece can be viewed at https://www.thelincolnianonline.com/2019/05/23/civeo-cveo-shares-down-10-6.html.
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.
Recommended Story: Hedge Funds – How They Work For Investors
Receive News & Ratings for Civeo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Civeo and related companies with MarketBeat.com's FREE daily email newsletter.