Charles Schwab Investment Management Inc. Buys 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. purchased a new stake in Civeo Corporation (NYSE:CVEO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,500 shares of the business services provider's stock, valued at approximately $1,070,000. Charles Schwab Investment Management Inc. owned about 0.35% of Civeo as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in Civeo in the 4th quarter valued at about $94,000. Lazard Asset Management LLC lifted its holdings in shares of Civeo by 24.0% in the fourth quarter. Lazard Asset Management LLC now owns 21,492 shares of the business services provider's stock valued at $488,000 after purchasing an additional 4,158 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Civeo by 18.2% in the fourth quarter. Millennium Management LLC now owns 80,055 shares of the business services provider's stock valued at $1,819,000 after purchasing an additional 12,299 shares in the last quarter. TCW Group Inc. raised its stake in Civeo by 2.0% in the 1st quarter. TCW Group Inc. now owns 795,845 shares of the business services provider's stock valued at $18,304,000 after purchasing an additional 15,628 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Civeo by 9.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 189,503 shares of the business services provider's stock worth $4,306,000 after buying an additional 16,385 shares in the last quarter. 81.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Civeo Stock Performance

Shares of CVEO stock traded down $0.09 on Friday, hitting $23.37. 37,014 shares of the stock traded hands, compared to its average volume of 59,805. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.51 and a quick ratio of 1.45. The company has a market capitalization of $293.31 million, a PE ratio of -9.62 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's fifty day moving average is $23.65 and its 200 day moving average is $22.29.

Civeo (NYSE:CVEO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported ($0.25) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $166.38 million. During the same period last year, the firm posted $0.57 earnings per share. Civeo has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Civeo Corporation will post -0.58 earnings per share 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.