Civeo (CVEO) Trading Down 6.1%

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Shares of Civeo Corp (NYSE:CVEO) traded down 6.1% during mid-day trading on Friday . The company traded as low as $2.16 and last traded at $2.16. 535,092 shares were traded during 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 recently issued reports on the stock. Zacks Investment Research lowered shares of Civeo from a “hold” rating to a “strong sell” rating in a research report on Monday, March 4th. ValuEngine downgraded shares of Civeo from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Civeo currently has a consensus rating of “Hold” and an average price target of $4.50.

The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.19 and a current ratio of 1.24. The company has a market capitalization of $380.41 million, a price-to-earnings ratio of -3.27 and a beta of 4.19.

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

In other Civeo news, SVP Peter Mccann sold 47,267 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $2.40, for a total transaction of $113,440.80. Following the transaction, the senior vice president now owns 505,005 shares of the company’s stock, valued at $1,212,012. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 109,874 shares of company stock worth $278,461. 1.80% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of CVEO. Prescott Group Capital Management L.L.C. raised its stake in shares of Civeo by 88.0% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 8,136,414 shares of the business services provider’s stock valued at $11,635,000 after acquiring an additional 3,807,558 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Civeo by 8.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,195,380 shares of the business services provider’s stock valued at $21,560,000 after acquiring an additional 385,809 shares during the period. D. E. Shaw & Co. Inc. raised its stake in shares of Civeo by 11.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,884,651 shares of the business services provider’s stock valued at $4,125,000 after acquiring an additional 299,296 shares during the period. Ancora Advisors LLC raised its stake in shares of Civeo by 69.9% in the 4th quarter. Ancora Advisors LLC now owns 704,183 shares of the business services provider’s stock valued at $1,007,000 after acquiring an additional 289,765 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Civeo in the 3rd quarter valued at $1,111,000. 66.38% of the stock is currently owned by institutional investors and hedge funds.

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About Civeo (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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