Civeo (NYSE:CVEO) Price Target Lowered to $28.00 at Stifel Nicolaus

Civeo (NYSE:CVEO) had its target price lowered by investment analysts at Stifel Nicolaus from $30.00 to $28.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 41.95% from the company’s current price.

Separately, StockNews.com downgraded shares of Civeo from a “buy” rating to a “hold” rating in a research note on Monday, March 31st.

Civeo Trading Down 1.6 %

CVEO traded down $0.32 during trading on Tuesday, hitting $19.73. 13,335 shares of the stock traded hands, compared to its average volume of 66,089. The firm has a 50-day moving average of $22.73 and a 200 day moving average of $23.96. Civeo has a 12-month low of $18.99 and a 12-month high of $28.92. The firm has a market capitalization of $269.33 million, a P/E ratio of 14.09 and a beta of 1.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.28.

Institutional Investors Weigh In On Civeo

A number of hedge funds have recently added to or reduced their stakes in CVEO. BNP Paribas Financial Markets bought a new position in shares of Civeo in the 4th quarter worth approximately $94,000. SG Americas Securities LLC increased its stake in shares of Civeo by 42.4% in the 4th quarter. SG Americas Securities LLC now owns 6,552 shares of the business services provider’s stock worth $149,000 after purchasing an additional 1,950 shares in the last quarter. State Street Corp bought a new position in Civeo in the 3rd quarter worth $222,000. XTX Topco Ltd bought a new stake in Civeo during the third quarter valued at about $231,000. Finally, Mackenzie Financial Corp purchased a new stake in Civeo in the fourth quarter worth about $386,000. 81.44% of the stock is currently owned by hedge funds and other institutional investors.

Civeo Company Profile

Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, and the United States. The company develops lodges and villages; and mobile assets, including modular, skid-mounted accommodation, and central facilities that provide short to medium-term accommodation needs.