Horizon Kinetics Asset Management LLC Sells 240,979 Shares of Civeo Corporation $CVEO

Horizon Kinetics Asset Management LLC decreased its position in Civeo Corporation (NYSE:CVEO) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,449,487 shares of the business services provider’s stock after selling 240,979 shares during the quarter. Civeo makes up approximately 0.8% of Horizon Kinetics Asset Management LLC’s portfolio, making the stock its 21st largest holding. Horizon Kinetics Asset Management LLC owned 21.26% of Civeo worth $56,020,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Lido Advisors LLC raised its position in shares of Civeo by 12.7% in the fourth quarter. Lido Advisors LLC now owns 25,909 shares of the business services provider’s stock valued at $596,000 after purchasing an additional 2,916 shares during the period. Goldman Sachs Group Inc. bought a new position in Civeo during the fourth quarter worth $2,290,000. Blue Owl Capital Holdings LP increased its position in Civeo by 16.7% during the fourth quarter. Blue Owl Capital Holdings LP now owns 370,530 shares of the business services provider’s stock worth $8,474,000 after acquiring an additional 53,119 shares during the period. Clearstead Advisors LLC increased its position in Civeo by 191.8% during the fourth quarter. Clearstead Advisors LLC now owns 1,538 shares of the business services provider’s stock worth $35,000 after acquiring an additional 1,011 shares during the period. Finally, GSA Capital Partners LLP increased its position in Civeo by 12.5% during the fourth quarter. GSA Capital Partners LLP now owns 51,113 shares of the business services provider’s stock worth $1,169,000 after acquiring an additional 5,681 shares during the period. Institutional investors own 81.44% of the company’s stock.

Civeo Trading Up 0.5%

Shares of CVEO stock opened at $34.40 on Wednesday. Civeo Corporation has a 1 year low of $19.75 and a 1 year high of $36.50. The firm’s fifty day simple moving average is $31.47 and its 200 day simple moving average is $27.52. The firm has a market capitalization of $376.28 million, a P/E ratio of -28.90 and a beta of 0.74. The company has a current ratio of 1.88, a quick ratio of 1.81 and a debt-to-equity ratio of 1.32.

Civeo (NYSE:CVEO) last posted its quarterly earnings results on Friday, May 1st. The business services provider reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.27. Civeo had a negative net margin of 2.10% and a negative return on equity of 7.72%. The firm had revenue of $172.67 million for the quarter, compared to the consensus estimate of $154.70 million. As a group, sell-side analysts predict that Civeo Corporation will post -1.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CVEO shares. Stifel Nicolaus boosted their target price on shares of Civeo from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Weiss Ratings lowered shares of Civeo from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.00.

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.