Civeo (NYSE:CVEO) Major Shareholder Sells $12,010,032.00 in Stock

Civeo Corporation (NYSE:CVEO) major shareholder Engine Capital Management, Lp sold 417,015 shares of Civeo stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $28.80, for a total transaction of $12,010,032.00. Following the completion of the sale, the insider owned 66,119 shares of the company’s stock, valued at $1,904,227.20. This trade represents a 86.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Engine Capital Management, Lp also recently made the following trade(s):

• On Wednesday, February 18th, Engine Capital Management, Lp sold 9,169 shares of Civeo stock. The shares were sold at an average price of $29.03, for a total transaction of $266,176.07.

Civeo Stock Performance

CVEO stock traded up $0.32 on Wednesday, hitting $29.06. The company’s stock had a trading volume of 113,541 shares, compared to its average volume of 64,868. The company has a current ratio of 1.64, a quick ratio of 1.57 and a debt-to-equity ratio of 1.03. Civeo Corporation has a 1 year low of $18.01 and a 1 year high of $29.33. The firm has a 50 day moving average of $24.91 and a two-hundred day moving average of $23.32. The stock has a market cap of $334.71 million, a price-to-earnings ratio of -13.77 and a beta of 0.63.

Analyst Ratings Changes

Several research firms have recently issued reports on CVEO. Stifel Nicolaus set a $33.00 price objective on Civeo and gave the stock a “buy” rating in a report on Thursday, February 5th. Weiss Ratings restated a “sell (d)” rating on shares of Civeo in a report on Monday, December 29th. Zacks Research raised Civeo from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 20th. Finally, Wall Street Zen raised shares of Civeo from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Civeo currently has a consensus rating of “Hold” and an average price target of $33.00.

Institutional Investors Weigh In On Civeo

Several hedge funds have recently made changes to their positions in CVEO. Empowered Funds LLC raised its holdings in Civeo by 5.5% in the fourth quarter. Empowered Funds LLC now owns 109,216 shares of the business services provider’s stock worth $2,498,000 after purchasing an additional 5,702 shares during the period. ExodusPoint Capital Management LP bought a new position in shares of Civeo in the fourth quarter valued at about $573,000. Charles Schwab Investment Management Inc. boosted its stake in Civeo by 38.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 189,057 shares of the business services provider’s stock valued at $4,324,000 after purchasing an additional 52,660 shares during the period. Boston Partners increased its stake in Civeo by 12.4% during the 4th quarter. Boston Partners now owns 161,911 shares of the business services provider’s stock worth $3,703,000 after acquiring an additional 17,871 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Civeo by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 628,158 shares of the business services provider’s stock valued at $14,366,000 after purchasing an additional 9,784 shares in the last quarter. Institutional investors own 81.44% of the company’s stock.

Civeo Company Profile

Civeo Corporation is a leading provider of workforce accommodations and integrated facility management services, primarily serving the oil and gas, mining, and construction sectors. The company specializes in the development, ownership, and operation of remote lodging facilities, commonly known as “man camps,” designed to house workers in geographically challenging environments. Its services include turnkey accommodations, catering, housekeeping, grounds maintenance, and logistical support, tailored to meet the needs of large-scale energy and resource projects.

With a network of lodges and villages across North America and Australia, Civeo caters to clients operating in regions such as Alberta’s oil sands, the Bakken shale play, and Australia’s Pilbara and Bowen Basin mining districts.