Civeo (NYSE:CVEO) Major Shareholder Engine Capital Management, Lp Sells 9,169 Shares

Civeo Corporation (NYSE:CVEO) major shareholder Engine Capital Management, Lp sold 9,169 shares of Civeo stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $29.03, for a total value of $266,176.07. Following the sale, the insider owned 65,461 shares of the company’s stock, valued at approximately $1,900,332.83. This represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $12,010,032.00.

Civeo Price Performance

Shares of CVEO opened at $29.06 on Thursday. 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 has a market cap of $334.71 million, a PE ratio of -13.77 and a beta of 0.63. Civeo Corporation has a twelve month low of $18.01 and a twelve month high of $29.33. The firm’s 50 day moving average price is $24.91 and its 200 day moving average price is $23.32.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen raised Civeo from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research raised shares of Civeo from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Civeo in a report 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 research note on Thursday, February 5th. One equities research 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, Civeo has an average rating of “Hold” and a consensus price target of $33.00.

Institutional Trading of Civeo

A number of hedge funds have recently bought and sold shares of CVEO. Clearstead Advisors LLC increased its holdings in shares of Civeo by 191.8% during 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 during the period. State of Wyoming bought a new stake in shares of Civeo in the 2nd quarter worth approximately $66,000. Quent Capital LLC bought a new stake in shares of Civeo during the third quarter valued at approximately $79,000. Goldman Sachs Group Inc. bought a new position in Civeo in the first quarter worth $204,000. Finally, XTX Topco Ltd acquired a new stake in Civeo during the second quarter worth $255,000. 81.44% of the stock is owned by institutional investors.

Civeo Company 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.