Dimensional Fund Advisors LP lifted its holdings in shares of Civeo Corp (NYSE:CVEO) by 15.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,809,571 shares of the business services provider’s stock after purchasing an additional 630,305 shares during the quarter. Dimensional Fund Advisors LP owned about 2.86% of Civeo worth $20,970,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. Element Capital Management LLC acquired a new stake in shares of Civeo during the first quarter worth about $104,000. RMB Capital Management LLC raised its holdings in Civeo by 186.7% in the first quarter. RMB Capital Management LLC now owns 36,467 shares of the business services provider’s stock valued at $137,000 after acquiring an additional 23,747 shares in the last quarter. Gagnon Securities LLC acquired a new stake in Civeo in the second quarter valued at approximately $139,000. UBS Group AG raised its holdings in Civeo by 109.4% in the first quarter. UBS Group AG now owns 42,890 shares of the business services provider’s stock valued at $162,000 after acquiring an additional 22,412 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in Civeo by 51.8% in the first quarter. Cubist Systematic Strategies LLC now owns 82,912 shares of the business services provider’s stock valued at $313,000 after acquiring an additional 28,304 shares in the last quarter. 65.79% of the stock is currently owned by institutional investors and hedge funds.
CVEO has been the topic of several analyst reports. Royal Bank of Canada reaffirmed a “hold” rating and issued a $4.50 target price on shares of Civeo in a report on Wednesday, July 25th. TheStreet raised shares of Civeo from a “d+” rating to a “c-” rating in a report on Tuesday, August 28th. Stifel Nicolaus initiated coverage on shares of Civeo in a report on Monday, September 10th. They issued a “buy” rating and a $5.00 target price on the stock. Finally, ValuEngine raised shares of Civeo from a “hold” rating to a “buy” rating in a report on Thursday, September 27th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Civeo has an average rating of “Buy” and an average target price of $4.75.
Shares of NYSE:CVEO opened at $3.70 on Friday. The company has a market capitalization of $697.03 million, a P/E ratio of -5.61 and a beta of 4.18. Civeo Corp has a fifty-two week low of $1.83 and a fifty-two week high of $4.64. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.50 and a current ratio of 1.55.
Civeo (NYSE:CVEO) last issued its earnings results on Friday, July 27th. The business services provider reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.22). The firm had revenue of $130.18 million during the quarter. Civeo had a negative net margin of 29.08% and a negative return on equity of 21.58%. As a group, analysts predict that Civeo Corp will post -0.22 earnings per share for the current fiscal year.
Civeo Corporation offers workforce accommodation, logistics, and facility management services to the natural resource industry in Canada, Australia, the United States, and internationally. The company develops lodges and villages; open camps; and mobile camps, including modular, skid-mounted accommodation, and central facilities that provide long-term and temporary work force accommodations.
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