Insider Selling: Civeo (NYSE:CVEO) Major Shareholder Sells $266,176.07 in Stock

Civeo Corporation (NYSE:CVEO) major shareholder Engine Capital Management, Lp sold 9,169 shares of Civeo stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $29.03, for a total value of $266,176.07. Following the completion of the sale, the insider owned 65,461 shares in the company, valued at $1,900,332.83. This represents a 12.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases 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 Trading Up 1.1%

CVEO traded up $0.32 on Wednesday, hitting $29.06. The company had a trading volume of 113,541 shares, compared to its average volume of 64,868. The company’s fifty day moving average price is $24.91 and its 200 day moving average price is $23.32. Civeo Corporation has a 1 year low of $18.01 and a 1 year 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 firm has a market cap of $334.71 million, a P/E ratio of -13.77 and a beta of 0.63.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CVEO shares. 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 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, Stifel Nicolaus set a $33.00 price objective on Civeo and gave the company a “buy” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $33.00.

Hedge Funds Weigh In On Civeo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new position in shares of Civeo in the fourth quarter worth $2,290,000. Millennium Management LLC boosted its holdings in Civeo by 217.7% in the third quarter. Millennium Management LLC now owns 128,810 shares of the business services provider’s stock valued at $2,963,000 after purchasing an additional 88,267 shares during the period. Blue Owl Capital Holdings LP grew its stake in Civeo by 16.7% during the 4th quarter. Blue Owl Capital Holdings LP now owns 370,530 shares of the business services provider’s stock worth $8,474,000 after purchasing an additional 53,119 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Civeo by 38.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 189,057 shares of the business services provider’s stock worth $4,324,000 after purchasing an additional 52,660 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Civeo during the 3rd quarter worth about $1,045,000. Hedge funds and other 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.