Horizon Kinetics Asset Management LLC Has $56.02 Million Position in Civeo Corporation $CVEO

Horizon Kinetics Asset Management LLC lowered its holdings in shares of Civeo Corporation (NYSE:CVEO) by 9.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,449,487 shares of the business services provider’s stock after selling 240,979 shares during the quarter. Civeo comprises about 0.8% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 21st biggest position. Horizon Kinetics Asset Management LLC owned about 0.21% of Civeo worth $56,020,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CVEO. Goldman Sachs Group Inc. acquired a new stake in Civeo during the first quarter worth $204,000. Empowered Funds LLC boosted its stake in shares of Civeo by 5.5% in the 1st quarter. Empowered Funds LLC now owns 106,318 shares of the business services provider’s stock valued at $2,445,000 after purchasing an additional 5,570 shares in the last quarter. State of Wyoming acquired a new stake in shares of Civeo in the 2nd quarter valued at $66,000. GSA Capital Partners LLP acquired a new stake in shares of Civeo in the 3rd quarter valued at $1,045,000. Finally, CenterBook Partners LP acquired a new stake in shares of Civeo in the 3rd quarter valued at $930,000. Institutional investors and hedge funds own 81.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Civeo from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Weiss Ratings downgraded shares of Civeo from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Civeo presently has an average rating of “Hold” and a consensus target price of $37.00.

Civeo Stock Up 0.5%

Shares of NYSE:CVEO opened at $34.40 on Wednesday. Civeo Corporation has a 52 week low of $19.75 and a 52 week high of $36.50. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.81 and a current ratio of 1.88. The company’s fifty day moving average is $31.47 and its 200-day moving average is $27.52. The company has a market capitalization of $376.28 million, a PE ratio of -28.90 and a beta of 0.74.

Civeo (NYSE:CVEO) last issued its earnings results on Friday, May 1st. The business services provider reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.27. The company had revenue of $172.67 million for the quarter, compared to the consensus estimate of $154.70 million. Civeo had a negative net margin of 2.10% and a negative return on equity of 7.72%. Equities research analysts predict that Civeo Corporation will post -1.1 earnings per share for the current fiscal year.

Civeo 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.