Acadian Asset Management LLC Trims Stock Holdings in Civeo Corporation $CVEO

Acadian Asset Management LLC decreased its position in Civeo Corporation (NYSE:CVEO) by 19.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 256,697 shares of the business services provider’s stock after selling 63,161 shares during the period. Acadian Asset Management LLC owned approximately 1.91% of Civeo worth $5,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVEO. BNP Paribas Financial Markets purchased a new position in Civeo in the 4th quarter worth $94,000. Lazard Asset Management LLC raised its stake in Civeo by 24.0% in the 4th quarter. Lazard Asset Management LLC now owns 21,492 shares of the business services provider’s stock worth $488,000 after acquiring an additional 4,158 shares during the last quarter. Millennium Management LLC raised its stake in Civeo by 18.2% in the 4th quarter. Millennium Management LLC now owns 80,055 shares of the business services provider’s stock worth $1,819,000 after acquiring an additional 12,299 shares during the last quarter. Man Group plc raised its stake in shares of Civeo by 108.0% during the 4th quarter. Man Group plc now owns 71,597 shares of the business services provider’s stock valued at $1,627,000 after buying an additional 37,173 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of Civeo during the 4th quarter valued at about $386,000. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Civeo Stock Performance

NYSE CVEO opened at $22.82 on Friday. Civeo Corporation has a fifty-two week low of $18.01 and a fifty-two week high of $28.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 1.51. The firm has a market capitalization of $286.44 million, a P/E ratio of -9.39 and a beta of 1.30. The stock has a 50-day simple moving average of $23.61 and a two-hundred day simple moving average of $22.16.

Civeo (NYSE:CVEO) last posted its earnings results on Tuesday, July 29th. The business services provider reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22). Civeo had a negative net margin of 5.25% and a negative return on equity of 12.76%. The business had revenue of $162.69 million for the quarter, compared to analyst estimates of $166.38 million. During the same quarter last year, the business earned $0.57 earnings per share. Civeo has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Civeo Corporation will post -0.58 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Civeo from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $27.00.

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.