Renaissance Technologies LLC Has $14.93 Million Position in Civeo Co. (NYSE:CVEO)

Renaissance Technologies LLC lowered its stake in shares of Civeo Co. (NYSE:CVEO) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 599,048 shares of the business services provider’s stock after selling 19,200 shares during the quarter. Renaissance Technologies LLC owned about 4.10% of Civeo worth $14,928,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in Civeo by 10.0% during the second quarter. Dimensional Fund Advisors LP now owns 439,427 shares of the business services provider’s stock worth $10,950,000 after buying an additional 39,987 shares in the last quarter. American Century Companies Inc. lifted its stake in Civeo by 22.4% during the second quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider’s stock worth $6,355,000 after purchasing an additional 46,633 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Civeo by 58.1% during the second quarter. Acadian Asset Management LLC now owns 226,334 shares of the business services provider’s stock worth $5,634,000 after purchasing an additional 83,145 shares during the last quarter. Raymond James & Associates lifted its stake in Civeo by 0.8% during the second quarter. Raymond James & Associates now owns 67,555 shares of the business services provider’s stock worth $1,683,000 after purchasing an additional 561 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in Civeo during the second quarter worth $930,000. Institutional investors and hedge funds own 81.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CVEO shares. StockNews.com upgraded Civeo from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 20th. Stifel Nicolaus restated a “buy” rating and set a $32.00 target price (up from $31.00) on shares of Civeo in a research note on Wednesday, July 31st.

Civeo Stock Up 0.1 %

Shares of CVEO opened at $28.53 on Friday. Civeo Co. has a 52 week low of $17.98 and a 52 week high of $28.92. The stock has a market capitalization of $417.11 million, a price-to-earnings ratio of 13.52 and a beta of 2.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.55. The stock has a fifty day moving average of $26.91 and a 200-day moving average of $25.54.

Civeo (NYSE:CVEO) last announced its quarterly earnings results on Tuesday, July 30th. The business services provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.35. Civeo had a return on equity of 4.75% and a net margin of 4.95%. The company had revenue of $188.71 million during the quarter, compared to analysts’ expectations of $173.70 million. During the same period in the prior year, the company earned $0.30 EPS. As a group, sell-side analysts anticipate that Civeo Co. will post -0.3 earnings per share for the current fiscal year.

Civeo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, August 26th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date was Monday, August 26th. Civeo’s payout ratio is 47.39%.

Insider Activity

In related news, SVP Allan Schoening sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $27.50, for a total transaction of $137,500.00. Following the completion of the transaction, the senior vice president now directly owns 16,146 shares of the company’s stock, valued at approximately $444,015. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.30% of the stock is owned by corporate insiders.

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.