Charles Schwab Investment Management Inc. Acquires Shares of 46,500 Civeo Corporation $CVEO

Key Points

• Charles Schwab Investment Management Inc. has acquired 46,500 shares of Civeo Corporation, valued at approximately $1,070,000, representing 0.35% of the company.
• Despite recent institutional investments, analysts have lowered their rating on Civeo shares from "hold" to "sell" as the stock's performance remains under scrutiny.
• Civeo reported a loss of ($0.25) earnings per share for its most recent quarter, missing analyst estimates, with total revenue of $162.69 million.

Charles Schwab Investment Management Inc. acquired a new stake in Civeo Corporation (NYSE:CVEO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 46,500 shares of the business services provider's stock, valued at approximately $1,070,000. Charles Schwab Investment Management Inc. owned 0.35% of Civeo as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in Civeo in the 4th quarter valued at about $94,000. Mackenzie Financial Corp bought a new stake in Civeo in the 4th quarter valued at about $386,000. Lazard Asset Management LLC lifted its holdings in shares of Civeo by 24.0% during 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 period. Lido Advisors LLC bought a new stake in shares of Civeo during the 4th quarter worth approximately $579,000. Finally, Man Group plc lifted its holdings 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 worth $1,627,000 after acquiring an additional 37,173 shares during the period. Institutional investors own 81.44% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Civeo from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $27.00.

Civeo Price Performance

CVEO stock opened at $23.73 on Tuesday. The company has a 50 day simple moving average of $23.59 and a 200 day simple moving average of $22.33. The stock has a market cap of $297.75 million, a price-to-earnings ratio of -9.76 and a beta of 1.30. Civeo Corporation has a 1 year low of $18.01 and a 1 year high of $28.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.51 and a quick ratio of 1.45.

Civeo (NYSE:CVEO - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.22). The company had revenue of $162.69 million for the quarter, compared to analyst estimates of $166.38 million. Civeo had a negative return on equity of 12.76% and a negative net margin of 5.25%.During the same quarter in the prior year, the company earned $0.57 earnings per share. Civeo has set its FY 2025 guidance at EPS. Research analysts anticipate that Civeo Corporation will post -0.58 EPS for the current fiscal year.

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.

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