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

Civeo Corporation (NYSE:CVEO) major shareholder Engine Capital Management, Lp sold 417,015 shares of the firm’s stock in a transaction that occurred 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. The trade was a 86.31% 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. 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 transaction of $266,176.07.

Civeo Price Performance

Shares of CVEO traded up $0.32 during trading hours on Wednesday, reaching $29.06. 113,541 shares of the stock traded hands, compared to its average volume of 64,868. Civeo Corporation has a 52-week low of $18.01 and a 52-week 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 company’s 50-day moving average price is $24.91 and its two-hundred day moving average price is $23.32. The company has a market cap of $334.71 million, a P/E ratio of -13.77 and a beta of 0.63.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Civeo

Several hedge funds and other institutional investors have recently modified their holdings of the business. Clearstead Advisors LLC boosted its stake in Civeo by 191.8% in the 4th quarter. Clearstead Advisors LLC now owns 1,538 shares of the business services provider’s stock worth $35,000 after purchasing an additional 1,011 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in 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 purchasing an additional 1,759 shares during the period. Punch & Associates Investment Management Inc. lifted its stake in Civeo by 0.8% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 275,585 shares of the business services provider’s stock worth $6,338,000 after purchasing an additional 2,115 shares in the last quarter. State of Wyoming purchased a new stake in shares of Civeo during the 2nd quarter worth approximately $66,000. Finally, Lido Advisors LLC lifted 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 valued at $596,000 after acquiring an additional 2,916 shares during the last quarter. Institutional investors own 81.44% of the company’s stock.

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.