Civeo Co. (NYSE:CVEO) Major Shareholder Lance Torgerson Sells 5,530 Shares

Civeo Co. (NYSE:CVEO) major shareholder Lance Torgerson sold 5,530 shares of the stock in a transaction that occurred on Wednesday, January 12th. The stock was sold at an average price of $19.96, for a total value of $110,378.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Lance Torgerson also recently made the following trade(s):

  • On Monday, January 10th, Lance Torgerson sold 5,269 shares of Civeo stock. The stock was sold at an average price of $19.55, for a total value of $103,008.95.
  • On Thursday, January 6th, Lance Torgerson sold 4,802 shares of Civeo stock. The stock was sold at an average price of $19.57, for a total value of $93,975.14.
  • On Tuesday, January 4th, Lance Torgerson sold 400 shares of Civeo stock. The stock was sold at an average price of $19.52, for a total value of $7,808.00.
  • On Tuesday, December 21st, Lance Torgerson sold 2,508 shares of Civeo stock. The stock was sold at an average price of $19.52, for a total value of $48,956.16.
  • On Friday, December 17th, Lance Torgerson sold 2,750 shares of Civeo stock. The stock was sold at an average price of $19.50, for a total value of $53,625.00.
  • On Wednesday, December 15th, Lance Torgerson sold 4,986 shares of Civeo stock. The stock was sold at an average price of $19.55, for a total value of $97,476.30.
  • On Friday, November 12th, Lance Torgerson sold 6,831 shares of Civeo stock. The stock was sold at an average price of $21.78, for a total value of $148,779.18.
  • On Wednesday, November 10th, Lance Torgerson sold 6,625 shares of Civeo stock. The stock was sold at an average price of $22.92, for a total value of $151,845.00.
  • On Monday, November 8th, Lance Torgerson sold 6,711 shares of Civeo stock. The stock was sold at an average price of $22.67, for a total value of $152,138.37.
  • On Friday, November 5th, Lance Torgerson sold 6,966 shares of Civeo stock. The stock was sold at an average price of $23.09, for a total value of $160,844.94.

Shares of CVEO opened at $20.56 on Friday. Civeo Co. has a 52 week low of $13.09 and a 52 week high of $25.28. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average of $20.55 and a 200-day moving average of $21.32.

Civeo (NYSE:CVEO) last announced its earnings results on Thursday, October 28th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.22). The company had revenue of $155.06 million for the quarter, compared to the consensus estimate of $154.95 million. Civeo had a negative return on equity of 1.46% and a negative net margin of 1.88%. During the same period in the prior year, the business earned $0.36 earnings per share. Sell-side analysts predict that Civeo Co. will post -0.3 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Morgan Stanley raised its position in Civeo by 8.5% during the 3rd quarter. Morgan Stanley now owns 51,283 shares of the business services provider’s stock worth $1,153,000 after purchasing an additional 4,007 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Civeo by 15.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 48,303 shares of the business services provider’s stock worth $1,086,000 after purchasing an additional 6,588 shares during the last quarter. Essex Financial Services Inc. bought a new position in Civeo during the 3rd quarter worth $226,000. Truist Financial Corp bought a new position in Civeo during the 3rd quarter worth $1,806,000. Finally, Advisor Group Holdings Inc. raised its position in Civeo by 82.8% during the 3rd quarter. Advisor Group Holdings Inc. now owns 1,969 shares of the business services provider’s stock worth $44,000 after purchasing an additional 892 shares during the last quarter. 76.91% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research upgraded Civeo from a “sell” rating to a “hold” rating in a research note on Wednesday, December 29th.

About Civeo

Civeo Corp. engages in the provision of workforce accommodations, logistics and facility management services to the natural resource industry. It operates through the following business segments: Canada, Australia, and U.S. The Canada segment provides accommodation services through lodges, open camps and mobile assets, which supports workforces from oil sands and in a variety of oil and natural gas drilling, mining and related natural resource applications, as well as disaster relief efforts.

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