Civeo Corp Receives a Hold from RBC Capital

By Austin Angelo

RBC Capital analyst Kurt Hallead reiterated a Hold rating on Civeo Corp (NYSE: CVEO) yesterday and set a price target of $3.50. The company’s shares closed yesterday at $2.32.

According to TipRanks.com, Hallead is a 5-star analyst with an average return of 11.1% and a 53.2% success rate. Hallead covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Energy Transfer Partners LP, and Diamond Offshore Drilling.

Civeo Corp has an analyst consensus of Moderate Buy, with a price target consensus of $4.33.

Based on Civeo Corp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $90.92 million and GAAP net loss of $15.95 million. In comparison, last year the company earned revenue of $95.04 million and had a GAAP net loss of $26.82 million.

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Civeo Corp. engages in the provision of remote site accommodations, logistics, and facility management services to the natural resources industry. It also provides catering and food services, housekeeping, laundry, facility management, water and wastewater treatment, power generation, communications, and redeployment logistics. It operates through the following geographical segments: Canada, Australia, and U. S. The company is headquartered in Houston, TX.