Raymond James Financial Inc. Purchases New Shares in Civeo Co. (NYSE:CVEO)

Raymond James Financial Inc. bought a new position in Civeo Co. (NYSE:CVEO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 63,917 shares of the business services provider's stock, valued at approximately $1,452,000. Raymond James Financial Inc. owned about 0.46% of Civeo at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CVEO. JPMorgan Chase & Co. grew its position in shares of Civeo by 4.8% in the fourth quarter. JPMorgan Chase & Co. now owns 19,707 shares of the business services provider's stock valued at $448,000 after purchasing an additional 894 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Civeo by 42.4% during the fourth quarter. SG Americas Securities LLC now owns 6,552 shares of the business services provider's stock valued at $149,000 after buying an additional 1,950 shares during the period. LPL Financial LLC lifted its holdings in shares of Civeo by 11.1% in the fourth quarter. LPL Financial LLC now owns 25,687 shares of the business services provider's stock worth $584,000 after buying an additional 2,575 shares in the last quarter. Empowered Funds LLC grew its stake in Civeo by 5.1% during the fourth quarter. Empowered Funds LLC now owns 100,748 shares of the business services provider's stock valued at $2,289,000 after acquiring an additional 4,885 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in Civeo by 12.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 59,940 shares of the business services provider's stock worth $1,362,000 after acquiring an additional 6,723 shares during the period. 81.44% of the stock is currently owned by institutional investors.

Civeo Price Performance

NYSE:CVEO traded up $0.70 during mid-day trading on Thursday, reaching $20.00. The stock had a trading volume of 31,229 shares, compared to its average volume of 103,275. The stock has a market capitalization of $269.06 million, a P/E ratio of 14.29 and a beta of 1.28. Civeo Co. has a one year low of $18.01 and a one year high of $28.92. The firm has a 50 day moving average price of $20.84 and a two-hundred day moving average price of $23.06. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.36.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVEO. Stifel Nicolaus decreased their target price on Civeo from $28.00 to $27.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. StockNews.com upgraded shares of Civeo from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st.

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.