Horizon Kinetics Asset Management Increases Position in Civeo (CVEO)
Fintel reports that Horizon Kinetics Asset Management has filed a 13D/A form with the SEC disclosing ownership of 3.87MM shares of Civeo Corp (CVEO). This represents 28.2% of the company.
In their previous filing dated January 26, 2022 they reported 3.49MM shares and 24.50% of the company, an increase in shares of 10.94% and an increase in total ownership of 3.70% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 9.42% Upside
As of January 28, 2023, the average one-year price target for Civeo is $36.72. The forecasts range from a low of $36.36 to a high of $37.80. The average price target represents an increase of 9.42% from its latest reported closing price of $33.56.
The projected annual revenue for Civeo is $677MM, a decrease of 2.58%. The projected annual EPS is -$0.58.
Fund Sentiment
There are 114 funds or institutions reporting positions in Civeo. This is a decrease of six owners or 5.00%.
Average portfolio weight of all funds dedicated to US:CVEO is 0.4073%, an increase of 0.9089%. Total shares owned by institutions increased in the last three months by 2.47% to 11,635K shares.
What are large shareholders doing?
Conversant Capital holds 957,470 shares representing 6.29% ownership of the company. In it's prior filing, the firm reported owning 957,360 shares, representing an increase of 0.01%. The firm increased its portfolio allocation in CVEO by 1.25% over the last quarter.
Prescott Group Capital Management, L.l.c. holds 784,988 shares representing 5.16% ownership of the company. In it's prior filing, the firm reported owning 785,450 shares, representing a decrease of 0.06%. The firm increased its portfolio allocation in CVEO by 12.03% over the last quarter.
FLPSX - Fidelity Low-Priced Stock Fund holds 775,355 shares representing 5.10% ownership of the company. In it's prior filing, the firm reported owning 875,661 shares, representing a decrease of 12.94%. The firm decreased its portfolio allocation in CVEO by 3.40% over the last quarter.
Renaissance Technologies holds 595,348 shares representing 3.91% ownership of the company. In it's prior filing, the firm reported owning 662,448 shares, representing a decrease of 11.27%. The firm increased its portfolio allocation in CVEO by 4.32% over the last quarter.
Tcw Group holds 532,084 shares representing 3.50% ownership of the company. In it's prior filing, the firm reported owning 512,247 shares, representing an increase of 3.73%. The firm increased its portfolio allocation in CVEO by 12.75% over the last quarter.
Civeo Background Information
(This description is provided by the company.)
Civeo Corporation is a leading provider of hospitality services with prominent market positions in the Canadian oil sands and the Australian natural resource regions. Civeo offers comprehensive solutions for lodging hundreds or thousands of workers with its long-term and temporary accommodations and provides food services, housekeeping, facility management, laundry, water and wastewater treatment, power generation, communications systems, security and logistics services. Civeo currently operates a total of 28 lodges and villages in Canada, Australia and the U.S., with an aggregate of approximately 30,000 rooms.
This story originally appeared on Fintel.