Flat Footed LLC Has $9.19 Million Stake in Civeo Corporation $CVEO

Flat Footed LLC cut its holdings in shares of Civeo Corporation (NYSE:CVEO) by 25.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 347,240 shares of the business services provider’s stock after selling 115,518 shares during the period. Civeo comprises approximately 1.0% of Flat Footed LLC’s portfolio, making the stock its 9th largest position. Flat Footed LLC’s holdings in Civeo were worth $9,188,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Advisors LLC increased its position in Civeo by 191.8% in the 4th quarter. Clearstead Advisors LLC now owns 1,538 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 1,011 shares during the period. State of Wyoming bought a new position in shares of Civeo during the second quarter valued at $66,000. OMERS ADMINISTRATION Corp bought a new position in shares of Civeo during the first quarter valued at $217,000. Goldman Sachs Group Inc. acquired a new position in shares of Civeo during the first quarter worth $204,000. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Civeo during the fourth quarter worth $573,000. 81.44% of the stock is owned by institutional investors.

Civeo Price Performance

Shares of CVEO opened at $34.76 on Monday. The business has a 50-day moving average of $33.66 and a 200-day moving average of $30.01. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.88 and a quick ratio of 1.81. The company has a market capitalization of $380.26 million, a price-to-earnings ratio of -29.21 and a beta of 0.73. Civeo Corporation has a 1 year low of $19.75 and a 1 year high of $36.50.

Civeo (NYSE:CVEO) last announced its earnings results on Friday, May 1st. The business services provider reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.27. The business had revenue of $172.67 million for the quarter, compared to analysts’ expectations of $154.70 million. Civeo had a negative return on equity of 7.72% and a negative net margin of 2.10%. As a group, equities research analysts anticipate that Civeo Corporation will post -1.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, June 15th. One 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 company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $37.00.

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.