Engine Capital Management LP Sells 463,638 Shares of Civeo Corporation $CVEO

by · The Markets Daily

Engine Capital Management LP lessened its stake in Civeo Corporation (NYSE:CVEO – Free Report) by 34.6% in the first quarter, Holdings Channel reports. The firm owned 874,476 shares of the business services provider’s stock after selling 463,638 shares during the quarter. Civeo accounts for about 2.8% of Engine Capital Management LP’s investment portfolio, making the stock its 12th largest position. Engine Capital Management LP owned 0.08% of Civeo worth $23,139,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. acquired a new stake in Civeo during the fourth quarter worth about $2,290,000. Millennium Management LLC raised its position in shares of Civeo by 217.7% in the 3rd quarter. Millennium Management LLC now owns 128,810 shares of the business services provider’s stock valued at $2,963,000 after buying an additional 88,267 shares in the last quarter. Blue Owl Capital Holdings LP raised its position in shares of Civeo by 16.7% in the 4th quarter. Blue Owl Capital Holdings LP now owns 370,530 shares of the business services provider’s stock valued at $8,474,000 after buying an additional 53,119 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 acquiring an additional 52,660 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of Civeo by 104.2% during the 1st quarter. Sei Investments Co. now owns 71,487 shares of the business services provider’s stock worth $1,892,000 after acquiring an additional 36,487 shares during the period. Institutional investors own 81.44% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $37.00.

Check Out Our Latest Stock Report on CVEO

Civeo Price Performance

Civeo stock opened at $34.53 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.81 and a current ratio of 1.88. Civeo Corporation has a 52 week low of $19.75 and a 52 week high of $36.50. The stock has a market capitalization of $377.80 million, a P/E ratio of -29.02 and a beta of 0.73. The stock has a fifty day moving average of $33.67 and a 200-day moving average of $30.08.

Civeo (NYSE:CVEO – Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The business services provider reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.27. The business had revenue of $172.67 million during the quarter, compared to the consensus estimate of $154.70 million. Civeo had a negative return on equity of 7.72% and a negative net margin of 2.10%. On average, sell-side analysts expect that Civeo Corporation will post -1.11 earnings per share for the current fiscal year.

About Civeo

(Free Report)

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.

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