31,666 Shares in Civeo Corporation $CVEO Bought by Clough Capital Partners L P

Key Points

• Clough Capital Partners L P has acquired 31,666 shares of Civeo Corporation (NYSE: CVEO), valued at approximately $728,000, increasing their ownership to 0.24% of the company.
• Multiple hedge funds, including BNP Paribas and Lazard Asset Management, have recently reported establishing or increasing their positions in Civeo, indicating strong institutional interest, with 81.44% of the company's stock now held by institutional investors.
• Civeo has faced recent challenges, reporting a loss of ($0.25) earnings per share for the last quarter, missing consensus estimates and prompting analysts to adjust their price targets and ratings on the stock.

Clough Capital Partners L P purchased a new position in shares of Civeo Corporation (NYSE:CVEO - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 31,666 shares of the business services provider's stock, valued at approximately $728,000. Clough Capital Partners L P owned approximately 0.24% of Civeo as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new position in Civeo during the 4th quarter worth approximately $94,000. Mackenzie Financial Corp acquired a new position in Civeo during the 4th quarter worth approximately $386,000. JPMorgan Chase & Co. grew its holdings in 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 acquiring an additional 894 shares in the last quarter. Lazard Asset Management LLC grew its holdings in 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 in the last quarter. Finally, Lido Advisors LLC acquired a new position in Civeo during the 4th quarter worth approximately $579,000. Institutional investors and hedge funds own 81.44% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut 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, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $27.00.

Civeo Stock Down 0.7%

Shares of NYSE:CVEO traded down $0.17 during trading on Wednesday, hitting $23.41. 20,536 shares of the company were exchanged, compared to its average volume of 91,607. The stock has a market capitalization of $293.78 million, a P/E ratio of -9.62 and a beta of 1.30. 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 Corporation has a 12-month low of $18.01 and a 12-month high of $28.92. The firm's 50 day moving average price is $23.62 and its 200-day moving average price is $22.34.

Civeo (NYSE:CVEO - Get Free Report) last issued 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 business 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 EPS. Civeo has set its FY 2025 guidance at EPS. On average, research analysts predict that Civeo Corporation will post -0.58 earnings per share 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.