Royal Bank of Canada initiated coverage on shares of Civeo Co. (NYSE:CVEO) in a report published on Friday morning. The brokerage issued a sector perform rating and a $3.50 price objective on the business services provider’s stock.
Other equities analysts have also recently issued research reports about the company. Scotiabank reissued a buy rating and issued a $4.50 price target on shares of Civeo in a research note on Wednesday, March 22nd. Craig Hallum initiated coverage on Civeo in a research note on Wednesday, March 22nd. They issued a buy rating and a $5.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $3.65.
Civeo (NYSE:CVEO) traded down 2.1636% during trading on Friday, hitting $3.1699. 321,448 shares of the stock were exchanged. The company’s market cap is $415.78 million. Civeo has a one year low of $1.00 and a one year high of $3.73. The stock’s 50 day moving average is $2.99 and its 200-day moving average is $2.40.
Civeo (NYSE:CVEO) last issued its quarterly earnings results on Thursday, February 23rd. The business services provider reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.01. The firm had revenue of $90.90 million for the quarter, compared to analysts’ expectations of $97.30 million. Civeo had a negative return on equity of 10.02% and a negative net margin of 22.56%. On average, equities research analysts expect that Civeo will post ($0.50) earnings per share for the current fiscal year.
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A number of institutional investors have recently added to or reduced their stakes in CVEO. California Public Employees Retirement System boosted its position in Civeo by 22.4% in the third quarter. California Public Employees Retirement System now owns 860,200 shares of the business services provider’s stock valued at $981,000 after buying an additional 157,600 shares during the period. Prescott Group Capital Management L.L.C. boosted its position in Civeo by 11.0% in the third quarter. Prescott Group Capital Management L.L.C. now owns 5,650,729 shares of the business services provider’s stock valued at $6,442,000 after buying an additional 561,801 shares during the period. JBF Capital Inc. boosted its position in Civeo by 37,690.0% in the third quarter. JBF Capital Inc. now owns 377,900 shares of the business services provider’s stock valued at $431,000 after buying an additional 376,900 shares during the period. ClariVest Asset Management LLC boosted its position in Civeo by 3.8% in the third quarter. ClariVest Asset Management LLC now owns 377,762 shares of the business services provider’s stock valued at $430,000 after buying an additional 13,900 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of Civeo by 59.7% in the third quarter. Tower Research Capital LLC TRC now owns 112,808 shares of the business services provider’s stock valued at $129,000 after buying an additional 42,191 shares in the last quarter. 64.07% of the stock is currently owned by institutional investors.
Civeo Corporation is an integrated provider of long-term and temporary remote site accommodations, logistics and facility management services to the natural resource industry. The Company operates in active oil, coal, natural gas and iron ore producing regions, including Canada, Australia and the United States.
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