Prescott Group Amends Civeo Stake Disclosure
Ticker: CVEO · Form: SC 13G/A · Filed: Jan 31, 2024 · CIK: 1590584
| Field | Detail |
|---|---|
| Company | Civeo Corp (CVEO) |
| Form Type | SC 13G/A |
| Filed Date | Jan 31, 2024 |
| Risk Level | low |
| Pages | 6 |
| Reading Time | 7 min |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, SC-13G/A
TL;DR
**Prescott Group updated their Civeo Corp ownership, signaling continued institutional interest.**
AI Summary
Prescott Group Capital Management, L.L.C. filed an amended SC 13G/A on January 31, 2024, indicating their ownership in Civeo Corporation. This filing, dated December 31, 2023, updates their previous disclosures regarding their stake in Civeo's Common Shares. This matters to investors because it provides transparency into significant institutional ownership changes, which can influence stock price and signal confidence (or lack thereof) in the company's future.
Why It Matters
This filing updates the public record on Prescott Group's beneficial ownership in Civeo, offering insight into a major institutional investor's position.
Risk Assessment
Risk Level: low — This is a routine amendment to a beneficial ownership filing and does not inherently signal new risks, but rather provides updated transparency.
Analyst Insight
An investor should note this filing as an update on institutional ownership, but without specific share counts or percentage changes, it's primarily for informational purposes regarding ongoing institutional interest in Civeo Corporation.
Key Players & Entities
- Prescott Group Capital Management, L.L.C. (company) — the reporting person filing the SC 13G/A
- Civeo Corporation (company) — the issuer of the securities
- PHIL FROHLICH (person) — a group member associated with Prescott Group
- PRESCOTT GROUP AGGRESSIVE SMALL CAP II, L.P. (company) — a group member associated with Prescott Group
- PRESCOTT GROUP AGGRESSIVE SMALL CAP MASTER FUND, G.P. (company) — a group member associated with Prescott Group
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G, filed pursuant to Rules 13d-1(b) and 13d-1(c) of the Securities Exchange Act of 1934.
Who is the reporting person in this filing?
The reporting person is Prescott Group Capital Management, L.L.C., based in Tulsa, Oklahoma.
What is the name of the issuer whose securities are being reported?
The issuer is Civeo Corporation, with its business address at Three Allen Center, 333 Clay Street, Suite 4980, Houston, TX 77002.
What is the CUSIP number for the securities mentioned in the filing?
The CUSIP number for the Common Shares, no par value per share, of Civeo Corporation is 17878Y207.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023.
Filing Stats: 1,870 words · 7 min read · ~6 pages · Grade level 7.9 · Accepted 2024-01-31 12:09:30
Filing Documents
- form_sc13ga-civeo.htm (SC 13G/A) — 128KB
- 0001011438-24-000035.txt ( ) — 130KB
(a)
Item 1(a) Name of Issuer. Civeo Corporation (the "Issuer")
(b)
Item 1(b) Address of Issuer's Principal Executive Offices. Three Allen Center 333 Clay Street, Suite 4980 Houston, Texas 77002
(a)
Item 2(a) Name of Person Filing. Prescott Group Capital Management, L.L.C. ("Prescott Capital"), Prescott Group Aggressive Small Cap, L.P. ("Prescott Small Cap"), Prescott Group Aggressive Small Cap II, L.P. ("Prescott Small Cap II" and, together with Prescott Small Cap, the "Small Cap Funds"), Prescott Group Aggressive Small Cap Master Fund, G.P. ("Master Fund") and Mr. Phil Frohlich.
(b)
Item 2(b) Address of Principal Business Office, or, if none, Residence. 1924 South Utica, Suite 1120 Tulsa, Oklahoma 74104
(c)
Item 2(c) Citizenship or Place of Organization. Prescott Capital is an Oklahoma limited liability company. The Small Cap Funds are Oklahoma limited partnerships. The Master Fund is an Oklahoma general partnership. Mr. Phil Frohlich is the principal of Prescott Capital and is a U.S. citizen.
(d)
Item 2(d) Title of Class of Securities. Common Shares, no par value per share (the "Common Shares").
(e)
Item 2(e) CUSIP Number. 17878Y207 Item 3 Reporting Person. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) An investment advisor in accordance with 240.13d-1(b)(1)(ii)(E). (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F). (g) A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G). (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813). (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3). (j) A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J). (k) Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution: ____. Item 4 (a) Each of Prescott Capital, the Small Cap Funds, the Master Fund and Mr. Phil Frohlich are the beneficial owners of 715,368 Common Shares as of December 31, 2023. (b) Each of Prescott Capital, the Small Cap Funds, the Master Fund and Mr. Phil Frohlich are the beneficial owners of 4.9% of the outstanding Common Shares as of December 31, 2023. This percentage is determined by dividing 715,368 by 14,745,906, the number of Common Shares outstanding as of October 23, 2023, as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on October 27, 2023. (c) Prescott Capital, as the general partner and investment manager of the Small Cap Funds, the gener