Key Points
- Engine Capital Management, Lp sold 9,169 Civeo shares on Feb. 18 at an average price of $29.03 for $266,176, and had also sold 417,015 shares on Feb. 13 at $28.80 for $12,010,032, leaving it with 65,461 shares valued at about $1.9M.
- Civeo stock is trading near its 52‑week high (~$29.06) with a market cap of ~$335M and a negative P/E (-13.77); institutional investors own about 81.44% and analysts have a consensus rating of Hold with an average target of $33.00.
Civeo Corporation (NYSE:CVEO - Get Free Report) major shareholder Engine Capital Management, Lp sold 9,169 shares of the company's stock in a transaction dated Wednesday, February 18th. The shares were 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. The trade was a 12.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Engine Capital Management, Lp also recently made the following trade(s):
- On Friday, February 13th, Engine Capital Management, Lp sold 417,015 shares of Civeo stock. The stock was sold at an average price of $28.80, for a total transaction of $12,010,032.00.
Civeo Trading Up 1.1%
CVEO stock opened at $29.06 on Thursday. Civeo Corporation has a 1-year low of $18.01 and a 1-year 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 business's 50 day moving average is $24.91 and its 200-day moving average is $23.32. The firm has a market cap of $334.71 million, a P/E ratio of -13.77 and a beta of 0.63.
Hedge Funds Weigh In On Civeo
Several large investors have recently bought and sold shares of CVEO. Empowered Funds LLC grew its holdings in Civeo by 5.5% during the 4th quarter. Empowered Funds LLC now owns 109,216 shares of the business services provider's stock worth $2,498,000 after acquiring an additional 5,702 shares during the period. ExodusPoint Capital Management LP acquired a new stake in shares of Civeo during the fourth quarter worth $573,000. Charles Schwab Investment Management Inc. grew its stake in shares of Civeo by 38.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 189,057 shares of the business services provider's stock worth $4,324,000 after purchasing an additional 52,660 shares during the period. Boston Partners increased its holdings in Civeo by 12.4% in the fourth quarter. Boston Partners now owns 161,911 shares of the business services provider's stock valued at $3,703,000 after purchasing an additional 17,871 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Civeo by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 628,158 shares of the business services provider's stock valued at $14,366,000 after buying an additional 9,784 shares during the period. 81.44% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently issued reports on the stock. Weiss Ratings reissued a "sell (d)" rating on shares of Civeo in a report on Monday, December 29th. Stifel Nicolaus set a $33.00 target price on Civeo and gave the stock a "buy" rating in a report on Thursday, February 5th. Zacks Research upgraded Civeo from a "strong sell" rating to a "hold" rating in a research report on Thursday, November 20th. Finally, Wall Street Zen upgraded Civeo from a "sell" rating to a "hold" rating in a research report on Saturday, November 1st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $33.00.
View Our Latest Report on CVEO
Civeo Company Profile
(
Get Free Report)
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.
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