Punch & Associates Investment Management Inc. lowered its stake in Civeo Corporation (NYSE:CVEO – Free Report) by 19.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 158,260 shares of the business services provider’s stock after selling 38,358 shares during the period. Punch & Associates Investment Management Inc.’s holdings in Civeo were worth $4,188,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its holdings in Civeo by 12.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 126,478 shares of the business services provider’s stock worth $3,347,000 after acquiring an additional 13,564 shares in the last quarter. Sei Investments Co. grew its stake in shares of Civeo by 104.2% in the first quarter. Sei Investments Co. now owns 71,487 shares of the business services provider’s stock worth $1,892,000 after acquiring an additional 36,487 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Civeo by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 639,272 shares of the business services provider’s stock worth $16,915,000 after acquiring an additional 11,114 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of Civeo by 9.4% during the first quarter. Ritholtz Wealth Management now owns 40,352 shares of the business services provider’s stock valued at $1,068,000 after acquiring an additional 3,470 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Civeo by 5.5% during the fourth quarter. Empowered Funds LLC now owns 109,216 shares of the business services provider’s stock valued at $2,498,000 after acquiring an additional 5,702 shares in the last quarter. Institutional investors own 81.44% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings upgraded shares of Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $37.00.
Civeo Price Performance
Shares of CVEO opened at $34.76 on Friday. Civeo Corporation has a twelve month low of $19.75 and a twelve month high of $36.50. The company has a market capitalization of $380.26 million, a P/E ratio of -29.21 and a beta of 0.73. The firm has a 50 day moving average of $33.66 and a 200 day moving average of $29.96. The company has a quick ratio of 1.81, a current ratio of 1.88 and a debt-to-equity ratio of 1.32.
Civeo (NYSE:CVEO – Get Free Report) last released its quarterly earnings data on Friday, May 1st. The business services provider reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.27. Civeo had a negative return on equity of 7.72% and a negative net margin of 2.10%.The business had revenue of $172.67 million for the quarter, compared to analysts’ expectations of $154.70 million. As a group, equities research analysts anticipate that Civeo Corporation will post -1.11 earnings per share for the current fiscal year.
About Civeo
Civeo Corporation is a leading provider of workforce accommodations and integrated facility management services, primarily serving the oil and gas, mining, and construction sectors. The company specializes in the development, ownership, and operation of remote lodging facilities, commonly known as “man camps,” designed to house workers in geographically challenging environments. Its services include turnkey accommodations, catering, housekeeping, grounds maintenance, and logistical support, tailored to meet the needs of large-scale energy and resource projects.
With a network of lodges and villages across North America and Australia, Civeo caters to clients operating in regions such as Alberta’s oil sands, the Bakken shale play, and Australia’s Pilbara and Bowen Basin mining districts.
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