Meros Investment Management LP Has $2.49 Million Stock Position in Civeo Co. (NYSE:CVEO)

Meros Investment Management LP boosted its stake in shares of Civeo Co. (NYSE:CVEO - Free Report) by 28.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,761 shares of the business services provider's stock after purchasing an additional 24,637 shares during the quarter. Meros Investment Management LP owned about 0.80% of Civeo worth $2,494,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Civeo by 4.8% during the fourth quarter. JPMorgan Chase & Co. now owns 19,707 shares of the business services provider's stock worth $448,000 after buying an additional 894 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Civeo by 42.4% during the 4th quarter. SG Americas Securities LLC now owns 6,552 shares of the business services provider's stock valued at $149,000 after acquiring an additional 1,950 shares in the last quarter. LPL Financial LLC increased its stake in Civeo by 11.1% in the fourth quarter. LPL Financial LLC now owns 25,687 shares of the business services provider's stock valued at $584,000 after acquiring an additional 2,575 shares during the period. BNP Paribas Financial Markets acquired a new position in Civeo in the fourth quarter worth about $94,000. Finally, Lazard Asset Management LLC raised its position in Civeo by 24.0% in the fourth quarter. Lazard Asset Management LLC now owns 21,492 shares of the business services provider's stock worth $488,000 after purchasing an additional 4,158 shares in the last quarter. Institutional investors and hedge funds own 81.44% of the company's stock.

Analysts Set New Price Targets

CVEO has been the topic of several analyst reports. Stifel Nicolaus lowered their price objective on 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 Civeo from a "buy" rating to a "hold" rating in a research report on Friday, May 9th.

Civeo Price Performance

Shares of Civeo stock traded up $0.21 during mid-day trading on Friday, reaching $21.14. 85,754 shares of the stock were exchanged, compared to its average volume of 69,195. Civeo Co. has a fifty-two week low of $18.01 and a fifty-two week high of $28.92. The company has a market cap of $284.40 million, a price-to-earnings ratio of 15.10 and a beta of 1.28. The firm has a 50-day simple moving average of $20.73 and a 200 day simple moving average of $22.77. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.06. Civeo had a net margin of 3.00% and a return on equity of 0.11%. The firm had revenue of $144.04 million for the quarter, compared to analysts' expectations of $150.86 million. On average, sell-side analysts predict that Civeo Co. will post -0.58 EPS for the current fiscal year.

Civeo Company 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.