Civeo Co. (NYSE:CVEO) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its holdings in Civeo Co. (NYSE:CVEO) by 87.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,607 shares of the business services provider’s stock after selling 11,445 shares during the quarter. Wells Fargo & Company MN’s holdings in Civeo were worth $37,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CVEO. WINTON GROUP Ltd increased its stake in Civeo by 218.5% in the 4th quarter. WINTON GROUP Ltd now owns 26,256 shares of the business services provider’s stock valued at $597,000 after buying an additional 18,013 shares during the period. OFI Invest Asset Management acquired a new position in Civeo in the 4th quarter valued at $878,000. Raymond James Financial Inc. acquired a new position in Civeo in the 4th quarter valued at $1,452,000. TCW Group Inc. increased its stake in Civeo by 4.2% in the 4th quarter. TCW Group Inc. now owns 780,217 shares of the business services provider’s stock valued at $17,727,000 after buying an additional 31,157 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Civeo by 63.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 170,118 shares of the business services provider’s stock valued at $3,865,000 after buying an additional 66,097 shares during the period. 81.44% of the stock is owned by institutional investors and hedge funds.

Civeo Stock Performance

NYSE:CVEO opened at $20.82 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 0.18. Civeo Co. has a fifty-two week low of $18.01 and a fifty-two week high of $28.92. The stock has a market cap of $280.09 million, a PE ratio of 14.87 and a beta of 1.28. The firm’s fifty day simple moving average is $20.75 and its 200-day simple moving average is $22.82.

Civeo (NYSE:CVEO) last posted its quarterly earnings results on Wednesday, April 30th. The business services provider reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.06. Civeo had a net margin of 3.00% and a return on equity of 0.11%. The business had revenue of $144.04 million for the quarter, compared to analysts’ expectations of $150.86 million. Analysts expect that Civeo Co. will post -0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CVEO has been the topic of several recent research reports. Stifel Nicolaus dropped their price objective on shares of Civeo from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. StockNews.com cut shares of Civeo from a “buy” rating to a “hold” rating in a research note on Friday, May 9th.

Civeo Profile

Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, and the United States. The company develops lodges and villages; and mobile assets, including modular, skid-mounted accommodation, and central facilities that provide short to medium-term accommodation needs.