Punch & Associates Investment Management Inc. Sells 78,967 Shares of Civeo Corporation $CVEO

Punch & Associates Investment Management Inc. decreased its stake in shares of Civeo Corporation (NYSE:CVEO) by 28.7% in the 4th quarter, Holdings Channel reports. The fund owned 196,618 shares of the business services provider’s stock after selling 78,967 shares during the quarter. Punch & Associates Investment Management Inc.’s holdings in Civeo were worth $4,497,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Clearstead Advisors LLC increased its position in shares of Civeo by 191.8% during the fourth quarter. Clearstead Advisors LLC now owns 1,538 shares of the business services provider’s stock worth $35,000 after acquiring an additional 1,011 shares in the last quarter. State of Wyoming bought a new stake in shares of Civeo during the second quarter worth $66,000. Goldman Sachs Group Inc. bought a new stake in shares of Civeo during the first quarter worth $204,000. ExodusPoint Capital Management LP bought a new stake in shares of Civeo during the fourth quarter worth $573,000. Finally, Lido Advisors LLC increased its position in shares of Civeo by 12.7% during the fourth quarter. Lido Advisors LLC now owns 25,909 shares of the business services provider’s stock worth $596,000 after acquiring an additional 2,916 shares in the last quarter. Institutional investors own 81.44% of the company’s stock.

Civeo Stock Performance

Shares of CVEO opened at $33.27 on Wednesday. The firm has a 50-day moving average of $32.23 and a 200-day moving average of $27.96. Civeo Corporation has a one year low of $19.75 and a one year high of $36.50. The company has a market cap of $364.10 million, a PE ratio of -27.96 and a beta of 0.74. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.88 and a quick ratio of 1.81.

Civeo (NYSE:CVEO) last announced its quarterly earnings data on Friday, May 1st. The business services provider reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.27. The company had revenue of $172.67 million during the quarter, compared to the consensus estimate of $154.70 million. Civeo had a negative net margin of 2.10% and a negative return on equity of 7.72%. As a group, equities analysts forecast that Civeo Corporation will post -1.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday. Stifel Nicolaus lifted their price target on shares of Civeo from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $37.00.

Civeo Profile

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.