Civeo Co. (NYSE:CVEO) Major Shareholder Sells $129,520.38 in Stock

Civeo Co. (NYSE:CVEO) major shareholder Lance Torgerson sold 5,858 shares of the stock in a transaction on Wednesday, October 13th. The stock was sold at an average price of $22.11, for a total value of $129,520.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Lance Torgerson also recently made the following trade(s):

  • On Monday, October 11th, Lance Torgerson sold 5,420 shares of Civeo stock. The stock was sold at an average price of $22.00, for a total value of $119,240.00.
  • On Friday, October 8th, Lance Torgerson sold 5,202 shares of Civeo stock. The stock was sold at an average price of $21.46, for a total value of $111,634.92.
  • On Wednesday, October 6th, Lance Torgerson sold 5,125 shares of Civeo stock. The stock was sold at an average price of $21.38, for a total value of $109,572.50.
  • On Monday, October 4th, Lance Torgerson sold 4,748 shares of Civeo stock. The stock was sold at an average price of $22.17, for a total value of $105,263.16.
  • On Friday, October 1st, Lance Torgerson sold 4,962 shares of Civeo stock. The stock was sold at an average price of $22.49, for a total value of $111,595.38.
  • On Wednesday, September 29th, Lance Torgerson sold 5,690 shares of Civeo stock. The stock was sold at an average price of $22.89, for a total value of $130,244.10.
  • On Monday, September 27th, Lance Torgerson sold 5,542 shares of Civeo stock. The shares were sold at an average price of $23.68, for a total value of $131,234.56.
  • On Friday, September 24th, Lance Torgerson sold 5,323 shares of Civeo stock. The shares were sold at an average price of $23.39, for a total value of $124,504.97.
  • On Wednesday, September 22nd, Lance Torgerson sold 5,605 shares of Civeo stock. The shares were sold at an average price of $22.64, for a total value of $126,897.20.
  • On Monday, September 20th, Lance Torgerson sold 5,494 shares of Civeo stock. The shares were sold at an average price of $21.60, for a total value of $118,670.40.

Civeo stock traded up $0.28 during midday trading on Wednesday, reaching $22.29. 20,954 shares of the company were exchanged, compared to its average volume of 37,929. The company has a market capitalization of $319.10 million, a price-to-earnings ratio of -42.07 and a beta of 3.88. The firm’s 50-day simple moving average is $22.32 and its 200-day simple moving average is $19.28. Civeo Co. has a 1 year low of $7.20 and a 1 year high of $25.28. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.09.

Civeo (NYSE:CVEO) last issued its quarterly earnings results on Thursday, July 29th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.69. Civeo had a positive return on equity of 0.66% and a negative net margin of 0.77%. The firm had revenue of $154.18 million for the quarter, compared to analyst estimates of $136.55 million. On average, analysts forecast that Civeo Co. will post -0.45 EPS for the current fiscal year.

CVEO has been the subject of a number of recent research reports. Zacks Investment Research cut Civeo from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 27th. TheStreet upgraded Civeo from a “d+” rating to a “c-” rating in a research report on Monday, August 2nd.

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in shares of Civeo by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 252,228 shares of the business services provider’s stock valued at $4,490,000 after buying an additional 15,077 shares during the period. TCW Group Inc. purchased a new stake in shares of Civeo during the 2nd quarter valued at about $3,764,000. Invenomic Capital Management LP raised its holdings in shares of Civeo by 29.5% during the 2nd quarter. Invenomic Capital Management LP now owns 167,626 shares of the business services provider’s stock valued at $2,984,000 after buying an additional 38,167 shares during the period. Bank of Montreal Can raised its holdings in shares of Civeo by 37.4% during the 2nd quarter. Bank of Montreal Can now owns 86,549 shares of the business services provider’s stock valued at $1,553,000 after buying an additional 23,559 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of Civeo by 46,109.0% during the 1st quarter. Royal Bank of Canada now owns 77,169 shares of the business services provider’s stock valued at $1,181,000 after buying an additional 77,002 shares during the period. 60.39% of the stock is currently owned by hedge funds and other institutional investors.

Civeo Company Profile

Civeo Corp. engages in the provision of workforce accommodations, logistics and facility management services to the natural resource industry. It operates through the following business segments: Canada, Australia, and U.S. The Canada segment provides accommodation services through lodges, open camps and mobile assets, which supports workforces from oil sands and in a variety of oil and natural gas drilling, mining and related natural resource applications, as well as disaster relief efforts.

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