CenterBook Partners LP Makes New Investment in Civeo Corporation $CVEO

CenterBook Partners LP acquired a new stake in Civeo Corporation (NYSE:CVEO) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 40,456 shares of the business services provider’s stock, valued at approximately $930,000. CenterBook Partners LP owned about 0.35% of Civeo at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in Civeo in the 3rd quarter worth approximately $1,045,000. Ritholtz Wealth Management boosted its holdings in shares of Civeo by 29.4% during the third quarter. Ritholtz Wealth Management now owns 41,914 shares of the business services provider’s stock worth $964,000 after purchasing an additional 9,531 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Civeo during the third quarter worth $79,000. State of Wyoming purchased a new stake in shares of Civeo in the second quarter valued at $66,000. Finally, XTX Topco Ltd acquired a new position in Civeo in the second quarter valued at $255,000. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Insider Buying and Selling

In other Civeo news, major shareholder Engine Capital Management, Lp sold 417,015 shares of the 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.70% of the stock is owned by company insiders.

Civeo Trading Up 0.1%

Shares of CVEO stock opened at $28.51 on Friday. The stock has a market cap of $328.38 million, a price-to-earnings ratio of -13.51 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. Civeo Corporation has a fifty-two week low of $18.01 and a fifty-two week high of $29.33. The firm’s 50 day moving average price is $25.14 and its two-hundred day moving average price is $23.39.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CVEO shares. Stifel Nicolaus set a $33.00 price target on Civeo and gave the stock a “buy” rating in a research note on Thursday, February 5th. Wall Street Zen raised shares of Civeo from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “sell (d)” rating on shares of Civeo in a report on Monday, December 29th. 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 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.