Mackenzie Financial Corp Buys New Stake in Civeo Corporation (CVEO)

Mackenzie Financial Corp acquired a new position in shares of Civeo Corporation (NYSE:CVEO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 241,664 shares of the business services provider’s stock, valued at approximately $723,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVEO. Blair William & Co. IL acquired a new position in Civeo Corporation during the first quarter worth approximately $139,000. Dynamic Technology Lab Private Ltd acquired a new position in Civeo Corporation during the first quarter worth approximately $155,000. M&T Bank Corp increased its position in Civeo Corporation by 2.8% in the first quarter. M&T Bank Corp now owns 65,000 shares of the business services provider’s stock worth $194,000 after buying an additional 1,766 shares during the last quarter. Ngam Advisors L.P. acquired a new position in Civeo Corporation during the first quarter worth approximately $286,000. Finally, Comerica Bank acquired a new position in Civeo Corporation during the first quarter worth approximately $315,000. Institutional investors and hedge funds own 76.20% of the company’s stock.

Institutional Ownership by Quarter for Civeo Corporation (NYSE:CVEO)

Shares of Civeo Corporation (CVEO) traded down 1.862% during mid-day trading on Tuesday, hitting $1.845. The company had a trading volume of 456,964 shares. The stock’s market cap is $243.55 million. Civeo Corporation has a 52-week low of $1.00 and a 52-week high of $3.73. The stock’s 50-day moving average is $2.27 and its 200-day moving average is $2.71.

Civeo Corporation (NYSE:CVEO) last announced its earnings results on Friday, April 28th. The business services provider reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.05. Civeo Corporation had a negative return on equity of 11.90% and a negative net margin of 23.00%. The business had revenue of $91.43 million for the quarter. Equities analysts forecast that Civeo Corporation will post ($0.54) earnings per share for the current year.

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A number of research firms have recently commented on CVEO. ValuEngine upgraded Civeo Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Scotiabank reiterated a “buy” rating and issued a $4.50 price objective on shares of Civeo Corporation in a report on Wednesday, March 22nd. Craig Hallum began coverage on Civeo Corporation in a report on Wednesday, March 22nd. They issued a “buy” rating and a $5.00 price objective on the stock. Finally, Royal Bank Of Canada began coverage on Civeo Corporation in a report on Friday, April 7th. They issued a “sector perform” rating and a $3.50 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Civeo Corporation currently has a consensus rating of “Buy” and an average target price of $3.65.

About Civeo Corporation

Civeo Corporation is an integrated provider of long-term and temporary remote site accommodations, logistics and facility management services to the natural resource industry. The Company operates in active oil, coal, natural gas and iron ore producing regions, including Canada, Australia and the United States.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CVEO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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