Civeo (NYSE:CVEO) Downgraded by StockNews.com to Hold

Civeo (NYSE:CVEO) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Civeo Price Performance

Civeo stock traded up $0.17 during midday trading on Monday, reaching $23.02. 59,843 shares of the company were exchanged, compared to its average volume of 64,550. The company has a market capitalization of $314.32 million, a price-to-earnings ratio of 16.44 and a beta of 2.03. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.36. The firm’s 50-day simple moving average is $23.39 and its 200-day simple moving average is $24.52. Civeo has a 1 year low of $20.26 and a 1 year high of $28.92.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CVEO. JPMorgan Chase & Co. grew its position in shares of Civeo by 4.8% in the fourth quarter. JPMorgan Chase & Co. now owns 19,707 shares of the business services provider’s stock valued at $448,000 after purchasing an additional 894 shares during the period. SG Americas Securities LLC grew its holdings in Civeo by 42.4% in the 4th quarter. SG Americas Securities LLC now owns 6,552 shares of the business services provider’s stock valued at $149,000 after buying an additional 1,950 shares during the period. Quantbot Technologies LP acquired a new position in shares of Civeo during the 3rd quarter valued at about $68,000. LPL Financial LLC increased its stake in shares of Civeo by 11.1% during the 4th quarter. LPL Financial LLC now owns 25,687 shares of the business services provider’s stock valued at $584,000 after acquiring an additional 2,575 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of Civeo during the 4th quarter worth about $94,000. Hedge funds and other institutional investors own 81.44% of the company’s stock.

About Civeo

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.