Civeo Corp (CVEO) Stake Lessened by California Public Employees Retirement System

California Public Employees Retirement System decreased its holdings in Civeo Corp (NYSE:CVEO) by 35.5% during the 2nd quarter, Holdings Channel reports. The firm owned 476,223 shares of the business services provider’s stock after selling 261,686 shares during the quarter. California Public Employees Retirement System’s holdings in Civeo were worth $2,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Gagnon Securities LLC bought a new position in shares of Civeo in the 2nd quarter valued at $139,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Civeo in the 2nd quarter valued at $145,000. UBS Group AG grew its position in Civeo by 109.4% during the 1st quarter. UBS Group AG now owns 42,890 shares of the business services provider’s stock worth $162,000 after acquiring an additional 22,412 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Civeo by 51.8% during the 1st quarter. Cubist Systematic Strategies LLC now owns 82,912 shares of the business services provider’s stock worth $313,000 after acquiring an additional 28,304 shares during the last quarter. Finally, A.R.T. Advisors LLC bought a new stake in Civeo during the 1st quarter worth $343,000. Institutional investors own 65.71% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada restated a “hold” rating and set a $4.50 price objective on shares of Civeo in a research report on Wednesday, July 25th. ValuEngine upgraded Civeo from a “hold” rating to a “buy” rating in a research report on Thursday, September 27th. Stifel Nicolaus set a $5.00 price objective on Civeo and gave the stock a “buy” rating in a research report on Friday, September 28th. Finally, TheStreet upgraded Civeo from a “d+” rating to a “c-” rating in a research report on Tuesday, August 28th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Civeo has an average rating of “Buy” and an average target price of $4.75.

Shares of CVEO stock opened at $2.71 on Wednesday. Civeo Corp has a twelve month low of $1.87 and a twelve month high of $4.64. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.55 and a quick ratio of 1.50.

Civeo Company Profile

Civeo Corporation offers workforce accommodation, logistics, and facility management services to the natural resource industry in Canada, Australia, the United States, and internationally. The company develops lodges and villages; open camps; and mobile camps, 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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