Ritholtz Wealth Management Buys Shares of 32,383 Civeo Corporation $CVEO

Ritholtz Wealth Management bought a new stake in shares of Civeo Corporation (NYSE:CVEO) in the 2nd quarter, Holdings Channel reports. The firm bought 32,383 shares of the business services provider’s stock, valued at approximately $748,000.

Other large investors have also modified their holdings of the company. Engine Capital Management LP purchased a new position in shares of Civeo during the first quarter valued at approximately $30,777,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Civeo in the first quarter valued at approximately $1,070,000. TCW Group Inc. boosted its holdings in shares of Civeo by 2.0% in the first quarter. TCW Group Inc. now owns 795,845 shares of the business services provider’s stock valued at $18,304,000 after purchasing an additional 15,628 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of Civeo in the first quarter valued at approximately $204,000. Finally, Clough Capital Partners L P purchased a new stake in shares of Civeo in the first quarter valued at approximately $728,000. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Zacks Research lowered Civeo from a “hold” rating to a “strong sell” rating in a report on Wednesday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Civeo in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered Civeo from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $27.00.

Civeo Stock Performance

Shares of NYSE:CVEO opened at $21.38 on Friday. The company has a market capitalization of $268.41 million, a price-to-earnings ratio of -8.80 and a beta of 1.20. Civeo Corporation has a 52 week low of $18.01 and a 52 week high of $28.23. The company has a quick ratio of 1.45, a current ratio of 1.51 and a debt-to-equity ratio of 0.81. The firm has a 50 day moving average of $22.57 and a 200 day moving average of $22.18.

Civeo (NYSE:CVEO) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22). The business had revenue of $162.69 million during the quarter, compared to the consensus estimate of $166.38 million. Civeo had a negative return on equity of 12.76% and a negative net margin of 5.25%.During the same period last year, the firm earned $0.57 EPS. Civeo has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Civeo Corporation will post -0.58 earnings per share for the current fiscal year.

Civeo 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.