Wellington Management Group LLP Decreases Stock Holdings in Civeo Co. (NYSE:CVEO)

Wellington Management Group LLP lowered its position in shares of Civeo Co. (NYSE:CVEO - Free Report) by 30.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 237,423 shares of the business services provider's stock after selling 104,863 shares during the quarter. Wellington Management Group LLP owned 1.74% of Civeo worth $5,394,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. TCW Group Inc. lifted its position in shares of Civeo by 4.2% during the 4th quarter. TCW Group Inc. now owns 780,217 shares of the business services provider's stock worth $17,727,000 after buying an additional 31,157 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Civeo by 3.2% during the 4th quarter. Renaissance Technologies LLC now owns 659,648 shares of the business services provider's stock worth $14,987,000 after purchasing an additional 20,200 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Civeo by 7.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 517,457 shares of the business services provider's stock worth $11,756,000 after purchasing an additional 35,648 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Civeo by 15.9% during the 4th quarter. American Century Companies Inc. now owns 398,013 shares of the business services provider's stock worth $9,043,000 after purchasing an additional 54,532 shares during the last quarter. Finally, Topline Capital Management LLC purchased a new stake in shares of Civeo during the 4th quarter worth approximately $4,663,000. Institutional investors own 81.44% of the company's stock.

Civeo Price Performance

Shares of CVEO traded up $0.40 during mid-day trading on Friday, reaching $22.85. 81,344 shares of the stock traded hands, compared to its average volume of 72,090. Civeo Co. has a 1 year low of $18.01 and a 1 year high of $28.92. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. The company has a market cap of $307.33 million, a price-to-earnings ratio of 16.32 and a beta of 1.38. The firm has a fifty day moving average price of $20.60 and a 200 day moving average price of $22.32.

Civeo (NYSE:CVEO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.78) by $0.06. The company had revenue of $144.04 million during the quarter, compared to the consensus estimate of $150.86 million. Civeo had a net margin of 3.00% and a return on equity of 0.11%. As a group, equities research analysts predict that Civeo Co. will post -0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Stifel Nicolaus dropped their price objective on shares of Civeo from $28.00 to $27.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Wall Street Zen upgraded Civeo from a "sell" rating to a "hold" rating in a research report on Friday, May 30th.

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.