CenterBook Partners LP Takes $930,000 Position in Civeo Corporation $CVEO

CenterBook Partners LP bought a new position in shares of Civeo Corporation (NYSE:CVEO) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 40,456 shares of the business services provider’s stock, valued at approximately $930,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVEO. American Century Companies Inc. increased its holdings in Civeo by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 470,826 shares of the business services provider’s stock worth $10,871,000 after purchasing an additional 32,452 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Civeo during the 3rd quarter valued at approximately $1,045,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Civeo by 5.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,029 shares of the business services provider’s stock worth $855,000 after buying an additional 1,759 shares in the last quarter. Ritholtz Wealth Management increased its stake in shares of Civeo by 29.4% in the third quarter. Ritholtz Wealth Management now owns 41,914 shares of the business services provider’s stock worth $964,000 after buying an additional 9,531 shares during the last quarter. Finally, Quent Capital LLC bought a new stake in shares of Civeo in the third quarter worth $79,000. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Insiders Place Their Bets

In other Civeo news, major shareholder Engine Capital Management, Lp sold 9,169 shares of the firm’s 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 transaction, the insider owned 65,461 shares of the company’s stock, valued at $1,900,332.83. This trade represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Stifel Nicolaus set a $33.00 price objective on shares of Civeo and gave the company a “buy” rating in a research note on Thursday, February 5th. Zacks Research upgraded shares of Civeo from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. Wall Street Zen upgraded Civeo from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Civeo in a report on Monday, December 29th. One investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $33.00.

Civeo Trading Up 0.1%

Civeo stock opened at $28.51 on Friday. Civeo Corporation has a 1 year low of $18.01 and a 1 year high of $29.33. The firm’s 50-day moving average is $25.14 and its 200-day moving average is $23.39. 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 company has a market cap of $328.38 million, a P/E ratio of -13.51 and a beta of 0.63.

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.