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 on Friday, February 13th. The stock was 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 $1,904,227.20. This trade represents a 86.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 shares were sold at an average price of $29.03, for a total value of $266,176.07.

Civeo Trading Down 1.3%

Shares of 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 stock has a market cap of $328.03 million, a price-to-earnings ratio of -13.50 and a beta of 0.63. The company has a quick ratio of 1.57, a current ratio of 1.64 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $25.03 and a 200-day moving average price of $23.36.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CVEO. Clearstead Advisors LLC boosted its stake in 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 last quarter. State of Wyoming acquired a new position in Civeo during the second quarter worth about $66,000. Quent Capital LLC purchased a new stake in Civeo during the 3rd quarter valued at about $79,000. Goldman Sachs Group Inc. acquired a new stake in Civeo in the 1st quarter valued at about $204,000. Finally, XTX Topco Ltd acquired a new stake in Civeo in the 2nd quarter valued at about $255,000. 81.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.