Renaissance Technologies LLC Trims Position in Civeo Corporation $CVEO

Renaissance Technologies LLC lowered its position in shares of Civeo Corporation (NYSE:CVEO) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 501,732 shares of the business services provider’s stock after selling 22,300 shares during the quarter. Renaissance Technologies LLC owned approximately 4.59% of Civeo worth $13,276,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. acquired a new position in Civeo in the 1st quarter valued at $204,000. Empowered Funds LLC lifted its stake in shares of Civeo by 5.5% during the 1st quarter. Empowered Funds LLC now owns 106,318 shares of the business services provider’s stock worth $2,445,000 after purchasing an additional 5,570 shares during the period. State of Wyoming acquired a new stake in shares of Civeo during the second quarter worth $66,000. Dimensional Fund Advisors LP boosted its holdings in shares of Civeo by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 618,374 shares of the business services provider’s stock worth $14,222,000 after purchasing an additional 9,870 shares during the last quarter. Finally, Boston Partners grew its position in shares of Civeo by 8.6% in the third quarter. Boston Partners now owns 144,040 shares of the business services provider’s stock valued at $3,313,000 after purchasing an additional 11,432 shares during the period. 81.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $37.00.

Civeo Stock Performance

NYSE:CVEO opened at $31.43 on Friday. The firm’s fifty day simple moving average is $33.58 and its 200 day simple moving average is $30.28. The firm has a market capitalization of $343.79 million, a price-to-earnings ratio of -26.86 and a beta of 0.73. Civeo Corporation has a twelve month low of $19.75 and a twelve 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.

Civeo (NYSE:CVEO) last announced its earnings results on Thursday, July 30th. The business services provider reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.07. The business had revenue of $180.02 million during the quarter, compared to the consensus estimate of $172.18 million. Civeo had a negative net margin of 1.93% and a negative return on equity of 7.82%. As a group, equities research analysts expect that Civeo Corporation will post -1.11 earnings per share for the current fiscal year.

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.