Civeo (NYSE:CVEO) Major Shareholder Engine Capital Management, Lp Sells 417,015 Shares of Stock

Civeo Corporation (NYSE:CVEO) major shareholder Engine Capital Management, Lp sold 417,015 shares of Civeo stock in a transaction on Friday, February 13th. The shares were sold at an average price of $28.80, for a total value of $12,010,032.00. Following the completion of the transaction, the insider owned 66,119 shares of the company’s stock, valued at approximately $1,904,227.20. This trade represents a 86.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares 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 stock was sold at an average price of $29.03, for a total value of $266,176.07.

Civeo Price Performance

Shares of CVEO opened at $29.06 on Thursday. Civeo Corporation has a twelve month low of $18.01 and a twelve month high of $29.33. The company has a current ratio of 1.64, a quick ratio of 1.57 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $334.71 million, a price-to-earnings ratio of -13.77 and a beta of 0.63. The firm’s fifty day simple moving average is $24.91 and its 200-day simple moving average is $23.32.

Hedge Funds Weigh In On Civeo

A number of institutional investors and hedge funds have recently made changes to their positions in CVEO. Clearstead Advisors LLC lifted its stake in shares of Civeo by 191.8% in the fourth quarter. Clearstead Advisors LLC now owns 1,538 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 1,011 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Civeo by 5.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,029 shares of the business services provider’s stock valued at $855,000 after acquiring an additional 1,759 shares during the period. Punch & Associates Investment Management Inc. lifted its position in shares of Civeo by 0.8% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 275,585 shares of the business services provider’s stock valued at $6,338,000 after acquiring an additional 2,115 shares during the period. State of Wyoming purchased a new stake in shares of Civeo during the 2nd quarter worth approximately $66,000. Finally, Lido Advisors LLC grew its holdings in shares of Civeo by 12.7% in the 4th quarter. Lido Advisors LLC now owns 25,909 shares of the business services provider’s stock worth $596,000 after acquiring an additional 2,916 shares during the period. 81.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

About Civeo

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.