Sei Investments Co. Boosts Position in Civeo Corporation $CVEO

Sei Investments Co. boosted its holdings in Civeo Corporation (NYSE:CVEO) by 104.2% in the first quarter, HoldingsChannel.com reports. The firm owned 71,487 shares of the business services provider’s stock after buying an additional 36,487 shares during the quarter. Sei Investments Co.’s holdings in Civeo were worth $1,892,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. purchased a new stake in shares of Civeo during the 4th quarter worth approximately $2,290,000. Millennium Management LLC grew its position in shares of Civeo by 217.7% in the 3rd quarter. Millennium Management LLC now owns 128,810 shares of the business services provider’s stock valued at $2,963,000 after buying an additional 88,267 shares during the last quarter. Blue Owl Capital Holdings LP raised its stake in Civeo by 16.7% during the 4th quarter. Blue Owl Capital Holdings LP now owns 370,530 shares of the business services provider’s stock worth $8,474,000 after acquiring an additional 53,119 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Civeo by 38.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 189,057 shares of the business services provider’s stock worth $4,324,000 after acquiring an additional 52,660 shares in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new stake in Civeo in the fourth quarter valued at $573,000. 81.44% of the stock is currently owned by hedge funds and other institutional investors.

Civeo Trading Down 0.0%

NYSE:CVEO opened at $30.75 on Monday. Civeo Corporation has a 12-month low of $19.75 and a 12-month high of $36.50. The company has a current ratio of 1.89, a quick ratio of 1.81 and a debt-to-equity ratio of 1.31. The stock’s 50 day simple moving average is $33.26 and its 200-day simple moving average is $30.55. The firm has a market cap of $317.92 million, a P/E ratio of -26.28 and a beta of 0.72.

Civeo (NYSE:CVEO) last posted its quarterly earnings data on Thursday, July 30th. The business services provider reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.07. The firm had revenue of $180.02 million for the quarter, compared to analyst estimates of $172.18 million. Civeo had a negative net margin of 1.93% and a negative return on equity of 7.82%. Equities analysts anticipate that Civeo Corporation will post -0.83 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Raymond James Financial began coverage on shares of Civeo in a research note on Tuesday, August 4th. They issued a “strong-buy” rating and a $51.00 price objective for the company. Weiss Ratings raised Civeo from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Civeo has an average rating of “Moderate Buy” and an average price target of $44.00.

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.