Swiss National Bank lifted its stake in Civeo Corp (NYSE:CVEO) by 42.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 234,000 shares of the business services provider’s stock after purchasing an additional 69,600 shares during the period. Swiss National Bank owned 0.14% of Civeo worth $971,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Citadel Advisors LLC boosted its position in shares of Civeo by 857.0% in the 2nd quarter. Citadel Advisors LLC now owns 81,343 shares of the business services provider’s stock worth $354,000 after purchasing an additional 72,843 shares during the last quarter. Raymond James & Associates lifted its holdings in Civeo by 15.9% during the second quarter. Raymond James & Associates now owns 372,223 shares of the business services provider’s stock worth $1,623,000 after acquiring an additional 51,147 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Civeo during the second quarter worth about $145,000. Prescott Group Capital Management L.L.C. lifted its holdings in Civeo by 2.0% during the second quarter. Prescott Group Capital Management L.L.C. now owns 4,177,866 shares of the business services provider’s stock worth $18,215,000 after acquiring an additional 80,000 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Civeo by 8.4% during the second quarter. PNC Financial Services Group Inc. now owns 241,331 shares of the business services provider’s stock worth $1,052,000 after acquiring an additional 18,672 shares in the last quarter. Institutional investors and hedge funds own 66.70% of the company’s stock.
CVEO has been the topic of several recent analyst reports. TheStreet upgraded Civeo from a “d+” rating to a “c-” rating in a report on Tuesday, August 28th. Stifel Nicolaus initiated coverage on Civeo in a report on Monday, September 10th. They set a “buy” rating and a $5.00 target price on the stock. ValuEngine upgraded Civeo from a “hold” rating to a “buy” rating in a report on Thursday, September 27th. Finally, Craig Hallum set a $4.00 target price on Civeo and gave the stock a “buy” rating in a report on Wednesday, October 31st. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $4.50.
CVEO opened at $1.70 on Friday. Civeo Corp has a 1 year low of $1.65 and a 1 year high of $4.64. The stock has a market capitalization of $302.35 million, a price-to-earnings ratio of -2.58 and a beta of 4.05. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.46 and a current ratio of 1.53.
Civeo (NYSE:CVEO) last released its quarterly earnings results on Wednesday, October 31st. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.02). Civeo had a negative net margin of 25.69% and a negative return on equity of 20.55%. The firm had revenue of $120.49 million during the quarter, compared to analyst estimates of $124.30 million. On average, analysts expect that Civeo Corp will post -0.28 EPS for the current fiscal year.
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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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