Natixis Advisors L.P. Sells 36,451 Shares of Civeo Corp (NYSE:CVEO)

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Natixis Advisors L.P. trimmed its stake in shares of Civeo Corp (NYSE:CVEO) by 17.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,982 shares of the business services provider’s stock after selling 36,451 shares during the quarter. Natixis Advisors L.P. owned about 0.10% of Civeo worth $294,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Brave Asset Management Inc. bought a new position in Civeo during the second quarter worth $34,000. JPMorgan Chase & Co. acquired a new stake in shares of Civeo during the second quarter worth $34,000. Envestnet Asset Management Inc. lifted its holdings in shares of Civeo by 148.7% during the second quarter. Envestnet Asset Management Inc. now owns 74,777 shares of the business services provider’s stock worth $129,000 after buying an additional 44,715 shares in the last quarter. Arlington Partners LLC acquired a new stake in shares of Civeo during the second quarter worth $287,000. Finally, Freestone Capital Holdings LLC lifted its holdings in shares of Civeo by 6.2% during the first quarter. Freestone Capital Holdings LLC now owns 172,377 shares of the business services provider’s stock worth $362,000 after buying an additional 10,048 shares in the last quarter. 66.07% of the stock is owned by hedge funds and other institutional investors.

CVEO stock traded up $0.02 during midday trading on Thursday, reaching $1.40. The company had a trading volume of 2,167 shares, compared to its average volume of 283,798. The company has a market capitalization of $227.17 million, a price-to-earnings ratio of -2.12 and a beta of 4.20. The stock has a 50 day moving average price of $1.42 and a 200-day moving average price of $1.74. Civeo Corp has a 1-year low of $1.12 and a 1-year high of $4.43. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.41 and a quick ratio of 1.36.

Civeo (NYSE:CVEO) last issued its earnings results on Monday, July 29th. The business services provider reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. The firm had revenue of $122.15 million during the quarter, compared to the consensus estimate of $117.40 million. Civeo had a negative return on equity of 11.21% and a negative net margin of 12.64%. As a group, research analysts anticipate that Civeo Corp will post -0.23 earnings per share for the current year.

A number of research firms have recently weighed in on CVEO. Stifel Nicolaus set a $4.00 target price on Civeo and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Zacks Investment Research raised Civeo from a “sell” rating to a “hold” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Civeo has a consensus rating of “Hold” and an average target price of $3.67.

About Civeo

Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, the United States, and internationally. The company develops lodges and villages; and mobile accommodations, including modular, skid-mounted accommodation, and central facilities that provide long-term and temporary work force accommodations.

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Institutional Ownership by Quarter for Civeo (NYSE:CVEO)

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