Civeo (NYSE:CVEO) Shares Up 5.6%

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Civeo Corp (NYSE:CVEO) shares shot up 5.6% during mid-day trading on Tuesday . The company traded as high as $1.34 and last traded at $1.33, 532,300 shares traded hands during trading. A decline of 4% from the average session volume of 557,379 shares. The stock had previously closed at $1.26.

A number of brokerages have issued reports on CVEO. ValuEngine upgraded shares of Civeo from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research cut shares of Civeo from a “buy” rating to a “hold” rating in a research report on Wednesday, December 25th.

The company has a debt-to-equity ratio of 0.84, a current ratio of 1.39 and a quick ratio of 1.33. The company has a market cap of $219.57 million, a price-to-earnings ratio of -2.02 and a beta of 3.98. The business’s 50-day simple moving average is $1.16 and its 200-day simple moving average is $1.28.

Civeo (NYSE:CVEO) last announced its earnings results on Friday, October 25th. The business services provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05. The company had revenue of $148.16 million during the quarter, compared to analysts’ expectations of $147.40 million. Civeo had a negative net margin of 8.15% and a negative return on equity of 7.53%. As a group, sell-side analysts forecast that Civeo Corp will post -0.16 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC acquired a new position in Civeo during the third quarter worth about $45,000. Moors & Cabot Inc. raised its position in Civeo by 34.7% during the third quarter. Moors & Cabot Inc. now owns 495,000 shares of the business services provider’s stock worth $631,000 after acquiring an additional 127,650 shares during the last quarter. Zeke Capital Advisors LLC acquired a new position in Civeo during the third quarter worth about $36,000. UBS Asset Management Americas Inc. raised its position in Civeo by 96.6% during the second quarter. UBS Asset Management Americas Inc. now owns 75,627 shares of the business services provider’s stock worth $130,000 after acquiring an additional 37,158 shares during the last quarter. Finally, Cloverdale Capital Management LLC raised its position in Civeo by 1.2% during the second quarter. Cloverdale Capital Management LLC now owns 3,870,147 shares of the business services provider’s stock worth $6,657,000 after acquiring an additional 47,004 shares during the last quarter. Institutional investors own 64.88% of the company’s stock.

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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