Civeo (CVEO) Stock Price Down 6.1%

Shares of Civeo Corp (NYSE:CVEO) fell 6.1% on Friday . The stock traded as low as $2.16 and last traded at $2.16. 535,092 shares changed hands during mid-day trading, an increase of 8% from the average session volume of 495,235 shares. The stock had previously closed at $2.30.

A number of analysts have recently commented on the stock. Zacks Investment Research cut shares of Civeo from a “hold” rating to a “strong sell” rating in a report on Monday, March 4th. ValuEngine lowered Civeo from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Civeo has an average rating of “Hold” and a consensus price target of $4.50.

The firm has a market cap of $358.81 million, a price-to-earnings ratio of -3.27 and a beta of 4.19. The company has a quick ratio of 1.19, a current ratio of 1.24 and a debt-to-equity ratio of 0.72.

Civeo (NYSE:CVEO) last posted its quarterly earnings results on Tuesday, February 26th. The business services provider reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. Civeo had a negative return on equity of 16.74% and a negative net margin of 17.62%. On average, analysts forecast that Civeo Corp will post -0.23 earnings per share for the current year.

In other Civeo news, SVP Peter Mccann sold 38,392 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $2.71, for a total value of $104,042.32. Following the completion of the sale, the senior vice president now owns 580,329 shares of the company’s stock, valued at $1,572,691.59. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 109,874 shares of company stock valued at $278,461. Corporate insiders own 1.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Great West Life Assurance Co. Can purchased a new position in Civeo during the fourth quarter valued at approximately $26,000. GSA Capital Partners LLP raised its position in Civeo by 64.1% during the fourth quarter. GSA Capital Partners LLP now owns 21,500 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 8,400 shares in the last quarter. Teachers Advisors LLC purchased a new position in Civeo during the third quarter valued at approximately $53,000. OLD National Bancorp IN raised its position in Civeo by 32.9% during the fourth quarter. OLD National Bancorp IN now owns 43,176 shares of the business services provider’s stock valued at $62,000 after acquiring an additional 10,698 shares in the last quarter. Finally, Miracle Mile Advisors LLC raised its position in Civeo by 146.7% during the fourth quarter. Miracle Mile Advisors LLC now owns 74,000 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 44,000 shares in the last quarter. Institutional investors own 66.38% of the company’s stock.

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Civeo Company Profile (NYSE:CVEO)

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

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