Civeo Co. (NYSE:CVEO) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in Civeo Co. (NYSE:CVEO) by 36.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 18,813 shares of the business services provider’s stock after selling 10,629 shares during the period. JPMorgan Chase & Co. owned 0.14% of Civeo worth $515,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CVEO. Quantbot Technologies LP acquired a new stake in shares of Civeo in the 3rd quarter worth $68,000. Quent Capital LLC acquired a new stake in Civeo in the third quarter valued at about $100,000. Empowered Funds LLC boosted its holdings in Civeo by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 95,863 shares of the business services provider’s stock valued at $2,627,000 after purchasing an additional 4,824 shares in the last quarter. State Street Corp acquired a new position in Civeo during the 3rd quarter worth approximately $222,000. Finally, XTX Topco Ltd purchased a new position in shares of Civeo during the 3rd quarter worth approximately $231,000. Institutional investors and hedge funds own 81.44% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Civeo from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th.

Civeo Stock Down 1.2 %

CVEO stock opened at $23.75 on Wednesday. Civeo Co. has a 52 week low of $21.15 and a 52 week 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 $326.97 million, a P/E ratio of 16.96 and a beta of 1.99. The company’s 50-day moving average price is $23.21 and its 200 day moving average price is $25.58.

Civeo (NYSE:CVEO) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.38). The firm had revenue of $176.34 million during the quarter, compared to analyst estimates of $172.59 million. Civeo had a return on equity of 0.11% and a net margin of 3.00%. During the same quarter in the prior year, the company earned $0.61 EPS. On average, research analysts expect that Civeo Co. will post -0.58 earnings per share for the current fiscal year.

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.