Civeo Corporation $CVEO Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Civeo Corporation (NYSE:CVEO - Free Report) by 51.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,270 shares of the business services provider's stock after selling 37,145 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.26% of Civeo worth $811,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. increased its stake in shares of Civeo by 4.8% during the 4th quarter. JPMorgan Chase & Co. now owns 19,707 shares of the business services provider's stock worth $448,000 after purchasing an additional 894 shares in the last quarter. LPL Financial LLC increased its stake in shares of Civeo by 11.1% during the 4th quarter. LPL Financial LLC now owns 25,687 shares of the business services provider's stock worth $584,000 after purchasing an additional 2,575 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Civeo during the 4th quarter worth approximately $94,000. Lazard Asset Management LLC grew its stake in Civeo by 24.0% in 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. Finally, Millennium Management LLC grew its stake in Civeo by 18.2% in the 4th quarter. Millennium Management LLC now owns 80,055 shares of the business services provider's stock worth $1,819,000 after acquiring an additional 12,299 shares during the period. 81.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVEO has been the subject of several recent analyst reports. Stifel Nicolaus lowered their target price on shares of Civeo from $28.00 to $27.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Wall Street Zen cut shares of Civeo from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Civeo has a consensus rating of "Buy" and an average price target of $27.00.

Civeo Trading Up 3.6%

Shares of CVEO traded up $0.8190 during mid-day trading on Friday, reaching $23.4390. The company had a trading volume of 6,094 shares, compared to its average volume of 93,295. The stock has a market cap of $294.21 million, a price-to-earnings ratio of -9.65 and a beta of 1.28. The firm has a fifty day simple moving average of $23.40 and a 200-day simple moving average of $22.37. Civeo Corporation has a fifty-two week low of $18.01 and a fifty-two week high of $28.92. The company has a current ratio of 1.51, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81.

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

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.