SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 11.2% Stake in Civeo Corp Common Stock
Beneficial Ownership Report
FMR LLC and its affiliates, including Abigail P. Johnson, have reported a beneficial ownership of 11.2% of Civeo Corp's common stock as of December 31, 2024, through an amended Schedule 13G filing.
Summary
- FMR LLC and Abigail P. Johnson, as reporting persons, beneficially own an aggregate of 1,546,838 shares of CIVEO CORP's common stock.
- This ownership represents 11.2% of the total outstanding common stock of CIVEO CORP as of December 31, 2024.
- FMR LLC holds sole voting and sole dispositive power over all 1,546,838 shares.
- Abigail P. Johnson holds sole dispositive power over the same 1,546,838 shares, reflecting her role as Director, Chairman, and CEO of FMR LLC and the Johnson family's controlling interest in FMR LLC.
- Fidelity Low-Priced Stock Fund, an entity under FMR LLC, specifically holds 873,958 shares, which accounts for 6.3% of CIVEO CORP's outstanding common stock.
- The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of CIVEO CORP.
- This filing is Amendment No. 10, indicating previous ownership disclosures by these parties.
Sentiment
Score: 7
Explanation: The filing indicates a significant and continued institutional investment by a reputable firm (FMR LLC) in CIVEO CORP, which is generally a positive signal for the company's stability and perceived value. The stated purpose of the holding is for ordinary course of business, not control, suggesting a passive, long-term investment.
Positives
- Significant institutional investment from FMR LLC, a major asset management firm, indicating confidence in CIVEO CORP.
- The investment is stated to be for ordinary course of business, not for control purposes, suggesting a passive, long-term investment perspective.
Future Outlook
NA
Industry Context
This filing indicates continued or increased institutional interest in CIVEO CORP from a major asset manager, FMR LLC. Such significant ownership by a prominent investment firm can be viewed positively within the industry as it suggests a belief in the company's long-term prospects or value.
Stakeholder Impact
- Shareholders: The disclosure of a significant institutional stake by FMR LLC may increase investor confidence and potentially influence stock valuation positively due to perceived institutional backing.
Key Dates
| Date | Description |
|---|---|
| 2023-01-03 | Effective date of Power of Attorney for Stephanie J. Brown on behalf of FMR LLC. |
| 2023-01-10 | Date of Schedule 13G filing by FMR LLC where the Power of Attorney (accession number -23-000003) was incorporated by reference. |
| 2023-01-26 | Effective date of Power of Attorney for Stephanie J. Brown on behalf of Abigail P. Johnson. |
| 2023-01-31 | Date of Schedule 13G filing by FMR LLC where the Power of Attorney (accession number -23-000038) for Abigail P. Johnson was incorporated by reference. |
| 2024-12-31 | Date of event which requires filing of this statement (reporting period end date for ownership calculation). |
| 2025-02-06 | Date of filing of this Schedule 13G Amendment No. 10. |
Keywords
CIVEO CORP, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investment, SEC Filing, Fidelity Low-Priced Stock Fund, Investment Management
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