SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Reaffirm 5.1% Passive Stake in Civeo Corp
Beneficial Ownership Statement Amendment
FMR LLC and Abigail P. Johnson have filed an amended Schedule 13G, confirming their beneficial ownership of 5.1% of Civeo Corp's common stock as of January 31, 2025.
Summary
- FMR LLC and Abigail P. Johnson filed an Amendment No. 11 to Schedule 13G, disclosing their beneficial ownership in Civeo Corp.
- As of January 31, 2025, the reporting persons collectively beneficially own 704,037 shares of Civeo Corp's common stock.
- This ownership represents 5.1% of the total outstanding common stock of Civeo Corp.
- FMR LLC holds sole voting power and sole dispositive power over all 704,037 shares.
- Abigail P. Johnson holds sole dispositive power over all 704,037 shares, but no sole voting power.
- The filing is a joint submission under Rule 13d-1(k)(1) agreement, indicating a group filing.
- FMR LLC is classified as a parent holding company, with subsidiaries including Fidelity Management & Research Company LLC (Investment Adviser) and Fidelity Management Trust Company (Bank).
- Abigail P. Johnson is identified as an individual, and also as a Director, Chairman, and Chief Executive Officer of FMR LLC, with the Johnson family holding predominant ownership of FMR LLC's voting shares.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would significantly alter the perception of the company's financial health or future prospects. It's a routine regulatory filing.
Positives
- A significant institutional investor (FMR LLC) and its key executive (Abigail P. Johnson) maintain a substantial stake (5.1%) in Civeo Corp, indicating continued confidence or a long-term passive investment strategy.
Negatives
- The document does not contain any negative information regarding Civeo Corp's operational performance or financial outlook. It is purely an ownership disclosure.
Risks
- The document itself does not detail specific risks related to Civeo Corp's operations or financial health. It is a disclosure of beneficial ownership.
Future Outlook
NA
Industry Context
This filing indicates continued investment by a major financial institution in Civeo Corp, a company operating in the workforce accommodation and services sector. It reflects a passive investment stance rather than an active strategic move within the industry, consistent with the nature of a Schedule 13G filing.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Ownership Structure Disclosure | Disclosure that members of the Johnson family, including Abigail P. Johnson, are predominant owners of Series B voting common shares of FMR LLC (representing 49% of voting power) and have a shareholders' voting agreement, potentially forming a controlling group with respect to FMR LLC under the Investment Company Act of 1940. | NA | Clarifies the control structure of the reporting entity, FMR LLC, rather than Civeo Corp. This provides transparency regarding the ultimate control of the shares reported. |
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional shareholder's continued stake, which might be viewed positively as a sign of stability or confidence from a major investor.
- Management: Awareness of a significant passive shareholder.
Key Dates
| Date | Description |
|---|---|
| 2023-01-03 | Effective date of Power of Attorney for FMR LLC. |
| 2023-01-26 | Effective date of Power of Attorney for Abigail P. Johnson. |
| 2025-01-31 | Date of event which requires filing of this statement (beneficial ownership snapshot date). |
| 2025-02-06 | Date of filing of this Schedule 13G Amendment No. 11. |
Keywords
Civeo Corp, FMR LLC, Abigail P. Johnson, Schedule 13G, beneficial ownership, common stock, institutional investment, SEC filing, passive investment
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