Civeo (NYSE:CVEO) Now Covered by Analysts at Northland Securities

Research analysts at Northland Securities began coverage on shares of Civeo (NYSE:CVEO) in a report issued on Thursday, Benzinga reports. The firm set an “outperform” rating and a $42.00 price target on the business services provider’s stock. Northland Securities’ target price suggests a potential upside of 28.63% from the stock’s current price.

Other research analysts have also issued reports about the stock. Weiss Ratings upgraded shares of Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, August 31st. Roth Capital initiated coverage on Civeo in a report on Thursday. They issued a “buy” rating and a $39.00 price target for the company. Finally, Raymond James Financial initiated coverage on Civeo in a research report on Tuesday, August 4th. They issued a “strong-buy” rating and a $51.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.25.

Civeo Stock Up 0.8%

Shares of NYSE CVEO opened at $32.65 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.89 and a quick ratio of 1.81. The stock has a market capitalization of $337.62 million, a PE ratio of -27.91 and a beta of 0.71. Civeo has a one year low of $19.75 and a one year high of $36.50. The business’s fifty day moving average price is $33.26 and its 200-day moving average price is $32.20.

Civeo (NYSE:CVEO) last announced its quarterly earnings data on Thursday, July 30th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.07. The business had revenue of $180.02 million for the quarter, compared to analysts’ expectations of $172.18 million. Civeo had a negative return on equity of 7.82% and a negative net margin of 1.93%. On average, equities research analysts anticipate that Civeo will post -0.83 EPS for the current year.

Institutional Investors Weigh In On Civeo

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Clearstead Advisors LLC boosted its stake in Civeo by 191.8% during the fourth quarter. Clearstead Advisors LLC now owns 1,538 shares of the business services provider’s stock valued at $35,000 after buying an additional 1,011 shares during the period. Ritholtz Wealth Management increased its stake in Civeo by 9.4% in the 1st quarter. Ritholtz Wealth Management now owns 40,352 shares of the business services provider’s stock worth $1,068,000 after acquiring an additional 3,470 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Civeo in the 2nd quarter valued at about $217,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Civeo during the 1st quarter valued at about $217,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Civeo by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 639,272 shares of the business services provider’s stock valued at $16,915,000 after acquiring an additional 11,114 shares during the last quarter. Hedge funds and other institutional investors own 81.44% of the company’s stock.

About Civeo

Civeo Corporation provides workforce accommodations and related hospitality services for companies operating in remote and challenging environments. Its customers primarily include businesses in the natural resources, mining, energy and infrastructure industries.

The company operates workforce villages, lodges and mobile camps, offering rooms and lodging along with catering, housekeeping, facility management, maintenance, transportation and other support services. These integrated services are designed to support employees working at remote project sites and production locations.

Civeo serves customers primarily in Australia and Canada, where it operates accommodations and provides hospitality services in resource-producing regions.