Balyasny Asset Management L.P. Invests $1.94 Million in Civeo Co. (NYSE:CVEO)

Balyasny Asset Management L.P. acquired a new position in shares of Civeo Co. (NYSE:CVEO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 85,445 shares of the business services provider’s stock, valued at approximately $1,941,000. Balyasny Asset Management L.P. owned about 0.62% of Civeo at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CVEO. BNP Paribas Financial Markets acquired a new stake in Civeo in the 4th quarter valued at about $94,000. SG Americas Securities LLC lifted its stake in Civeo by 42.4% in the 4th quarter. SG Americas Securities LLC now owns 6,552 shares of the business services provider’s stock valued at $149,000 after purchasing an additional 1,950 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Civeo by 4.8% in the 4th 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 during the last quarter. Lido Advisors LLC acquired a new stake in Civeo in the 4th quarter valued at about $579,000. Finally, LPL Financial LLC lifted its stake in Civeo by 11.1% in the 4th quarter. LPL Financial LLC now owns 25,687 shares of the business services provider’s stock valued at $584,000 after purchasing an additional 2,575 shares during the last quarter. 81.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVEO has been the subject of several recent analyst reports. StockNews.com downgraded shares of Civeo from a “buy” rating to a “hold” rating in a research note on Friday. Stifel Nicolaus cut their target price on shares of Civeo from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, May 2nd.

Civeo Stock Down 1.2%

Civeo stock opened at $20.67 on Tuesday. The stock has a market cap of $278.07 million, a P/E ratio of 14.76 and a beta of 1.28. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 0.18. Civeo Co. has a twelve month low of $18.01 and a twelve month high of $28.92. The company’s 50-day moving average price is $20.80 and its two-hundred day moving average price is $22.85.

Civeo (NYSE:CVEO) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.06. The firm had revenue of $144.04 million for the quarter, compared to analysts’ expectations 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 EPS for the current year.

About Civeo

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.