Bridgeway Capital Management LLC Boosts Holdings in Civeo Co. (NYSE:CVEO)

Bridgeway Capital Management LLC grew its position in Civeo Co. (NYSE:CVEO) by 9.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 189,503 shares of the business services provider’s stock after purchasing an additional 16,385 shares during the period. Bridgeway Capital Management LLC’s holdings in Civeo were worth $4,306,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Topline Capital Management LLC purchased a new position in Civeo during the 4th quarter worth $4,663,000. Balyasny Asset Management L.P. acquired a new position in shares of Civeo in the fourth quarter valued at about $1,941,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Civeo by 63.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 170,118 shares of the business services provider’s stock worth $3,865,000 after purchasing an additional 66,097 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Civeo during the fourth quarter worth about $1,452,000. Finally, American Century Companies Inc. boosted its position in Civeo by 15.9% in the fourth quarter. American Century Companies Inc. now owns 398,013 shares of the business services provider’s stock valued at $9,043,000 after buying an additional 54,532 shares during the last quarter. 81.44% of the stock is owned by institutional investors and hedge funds.

Civeo Stock Up 0.7 %

Shares of CVEO stock opened at $19.27 on Thursday. Civeo Co. has a twelve month low of $18.01 and a twelve month high of $28.92. The stock has a market cap of $259.24 million, a P/E ratio of 13.76 and a beta of 1.28. The stock has a 50 day moving average of $20.84 and a 200 day moving average of $23.06. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18.

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com upgraded shares of Civeo from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Stifel Nicolaus decreased their target price on shares of Civeo from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Friday, May 2nd.

About Civeo

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.