Mad River Investors Lowers Holdings in Civeo Corporation (NYSE:CVEO)

Mad River Investors lowered its stake in shares of Civeo Corporation (NYSE:CVEO - Free Report) by 63.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,497 shares of the business services provider's stock after selling 137,269 shares during the period. Civeo makes up 0.8% of Mad River Investors' portfolio, making the stock its 14th biggest position. Mad River Investors owned approximately 0.59% of Civeo worth $1,828,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new stake in shares of Civeo during the fourth quarter worth $94,000. Mackenzie Financial Corp bought a new stake in Civeo during the fourth quarter worth $386,000. JPMorgan Chase & Co. grew its holdings in 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 purchasing an additional 894 shares during the period. Lazard Asset Management LLC boosted its stake 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. Finally, Lido Advisors LLC bought a new stake in shares of Civeo during the 4th quarter worth about $579,000. 81.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVEO has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Civeo from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Stifel Nicolaus lowered their price objective 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.

Civeo Trading Up 0.4%

Shares of CVEO stock traded up $0.09 on Wednesday, hitting $22.63. 91,251 shares of the company's stock traded hands, compared to its average volume of 74,940. The company's fifty day simple moving average is $21.00 and its 200 day simple moving average is $22.24. Civeo Corporation has a one year low of $18.01 and a one year high of $28.92. The stock has a market capitalization of $304.37 million, a price-to-earnings ratio of -13.97 and a beta of 1.38. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.59 and a current ratio of 1.66.

Civeo (NYSE:CVEO - Get Free Report) last announced its earnings results on Wednesday, April 30th. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.06. The firm had revenue of $144.04 million during the quarter, compared to analyst estimates of $150.86 million. Civeo had a negative return on equity of 7.23% and a negative net margin of 3.30%. Equities analysts forecast that Civeo Corporation will post -0.58 EPS for the current 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.