Civeo Corporation $CVEO Stake Increased by Blue Owl Capital Holdings LP

Blue Owl Capital Holdings LP increased its stake in Civeo Corporation (NYSE:CVEO) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 370,530 shares of the business services provider’s stock after buying an additional 53,119 shares during the period. Civeo comprises about 0.6% of Blue Owl Capital Holdings LP’s investment portfolio, making the stock its 12th largest position. Blue Owl Capital Holdings LP’s holdings in Civeo were worth $8,474,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clearstead Advisors LLC increased its stake in shares of Civeo by 191.8% in the fourth quarter. Clearstead Advisors LLC now owns 1,538 shares of the business services provider’s stock worth $35,000 after buying an additional 1,011 shares during the last quarter. State of Wyoming bought a new stake in shares of Civeo in the second quarter worth $66,000. Goldman Sachs Group Inc. bought a new stake in shares of Civeo in the first quarter worth $204,000. CenterBook Partners LP bought a new stake in shares of Civeo in the third quarter worth $930,000. Finally, GSA Capital Partners LLP acquired a new position in Civeo in the third quarter worth $1,045,000. Institutional investors own 81.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CVEO shares. Weiss Ratings raised shares of Civeo from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Stifel Nicolaus lifted their price objective on shares of Civeo from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. One equities research 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, the company has a consensus rating of “Hold” and a consensus target price of $37.00.

Insiders Place Their Bets

In related news, SVP Peter Mccann sold 4,000 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $28.64, for a total value of $114,560.00. Following the completion of the sale, the senior vice president owned 50,942 shares of the company’s stock, valued at $1,458,978.88. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.50% of the stock is owned by insiders.

Civeo Stock Performance

CVEO stock opened at $33.63 on Monday. The company has a market capitalization of $367.91 million, a P/E ratio of -28.26 and a beta of 0.73. The company has a 50-day simple moving average of $29.88 and a 200 day simple moving average of $26.45. Civeo Corporation has a fifty-two week low of $19.75 and a fifty-two week high of $36.50. The company has a quick ratio of 1.81, a current ratio of 1.88 and a debt-to-equity ratio of 1.32.

Civeo (NYSE:CVEO) last posted 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 net margin of 2.10% and a negative return on equity of 7.72%. Sell-side analysts predict that Civeo Corporation will post -0.67 earnings per share for the current fiscal year.

Civeo 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.