Wellington Management Group LLP Cuts Stock Position in Civeo Co. (NYSE:CVEO)

Wellington Management Group LLP cut its stake in shares of Civeo Co. (NYSE:CVEO - Free Report) by 30.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 237,423 shares of the business services provider's stock after selling 104,863 shares during the period. Wellington Management Group LLP owned about 1.74% of Civeo worth $5,394,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVEO. Mackenzie Financial Corp purchased a new stake in Civeo during the fourth quarter valued at $386,000. Man Group plc grew its stake in shares of Civeo by 108.0% during the 4th quarter. Man Group plc now owns 71,597 shares of the business services provider's stock valued at $1,627,000 after purchasing an additional 37,173 shares during the period. Meros Investment Management LP increased its position in shares of Civeo by 28.9% during the 4th quarter. Meros Investment Management LP now owns 109,761 shares of the business services provider's stock valued at $2,494,000 after purchasing an additional 24,637 shares during the last quarter. Millennium Management LLC increased its position in shares of Civeo by 18.2% during the 4th 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 during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of 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 purchasing an additional 4,158 shares during the period. 81.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CVEO shares. Stifel Nicolaus cut their target price on shares of Civeo from $28.00 to $27.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Wall Street Zen raised shares of Civeo from a "sell" rating to a "hold" rating in a research report on Friday, May 30th.

Civeo Stock Performance

NYSE:CVEO traded up $0.53 during mid-day trading on Friday, hitting $22.98. 52,779 shares of the company traded hands, compared to its average volume of 71,771. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 0.18. The stock's fifty day moving average price is $20.60 and its 200-day moving average price is $22.33. The firm has a market cap of $309.08 million, a price-to-earnings ratio of 16.41 and a beta of 1.28. Civeo Co. has a one year low of $18.01 and a one year high of $28.92.

Civeo (NYSE:CVEO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, beating 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 return on equity of 0.11% and a net margin of 3.00%. Research analysts anticipate that Civeo Co. 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.