GSA Capital Partners LLP Takes $1.05 Million Position in Civeo Corporation $CVEO

GSA Capital Partners LLP acquired a new position in shares of Civeo Corporation (NYSE:CVEO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 45,432 shares of the business services provider’s stock, valued at approximately $1,045,000. GSA Capital Partners LLP owned approximately 0.39% of Civeo at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in shares of Civeo by 7.4% during the second quarter. American Century Companies Inc. now owns 470,826 shares of the business services provider’s stock worth $10,871,000 after buying an additional 32,452 shares in the last quarter. XTX Topco Ltd bought a new stake in Civeo during the 2nd quarter worth $255,000. Ritholtz Wealth Management increased its holdings in Civeo by 29.4% in the 3rd quarter. Ritholtz Wealth Management now owns 41,914 shares of the business services provider’s stock worth $964,000 after purchasing an additional 9,531 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Civeo in the first quarter valued at about $204,000. Finally, Empowered Funds LLC boosted its stake in shares of Civeo by 5.5% during the first 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. Institutional investors and hedge funds own 81.44% of the company’s stock.

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 company a “buy” rating in a research note on Thursday, February 5th. Wall Street Zen upgraded shares of Civeo from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings reissued a “sell (d)” rating on shares of Civeo in a research note on Monday, December 29th. Finally, Zacks Research raised Civeo from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 20th. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $33.00.

Civeo Trading Down 1.3%

NYSE:CVEO opened at $28.48 on Friday. Civeo Corporation has a 52 week low of $18.01 and a 52 week high of $29.33. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.57 and a current ratio of 1.64. The firm’s fifty day moving average is $25.03 and its 200-day moving average is $23.36. The firm has a market cap of $328.03 million, a P/E ratio of -13.50 and a beta of 0.63.

Insider Buying and Selling

In other Civeo news, major shareholder Engine Capital Management, Lp sold 9,169 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $29.03, for a total transaction of $266,176.07. Following the completion of the sale, the insider directly owned 65,461 shares in the company, valued at approximately $1,900,332.83. This trade represents a 12.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.70% of the company’s stock.

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.