Who Owns Civeo Company?

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Who Owns Civeo Corporation?

Understanding Civeo's ownership is key to grasping its strategy and governance. Civeo became an independent, publicly traded company in 2014 after spinning off from Oil States International, Inc.

This spin-off distributed shares to Oil States International shareholders, establishing Civeo's initial ownership structure. As of April 2025, Civeo's market capitalization stood at approximately $285.43 million, reflecting its position in the workforce accommodation sector.

Institutional investors hold a significant portion of Civeo's shares, influencing its strategic direction. Public shareholders also play a role, with their collective holdings impacting market perception and company decisions. The board of directors oversees these dynamics, guiding capital allocation and strategic initiatives, such as recent share repurchase programs. For a deeper look into the external factors affecting the company, consider a Civeo PESTEL Analysis.

Civeo Corporation's ownership structure is not defined by traditional individual founders. Instead, its origins lie in a corporate spin-off from Oil States International, Inc. in 2014. This event distributed ownership to the existing shareholders of Oil States International, Inc., establishing Civeo as a publicly owned entity from its inception.

Publicly Traded Status

Civeo Corporation is a publicly traded company. Its shares are available on the stock market, meaning ownership is dispersed among many investors.

Shareholder Distribution

Following the 2014 spin-off, ownership was allocated to the shareholders of the former parent company. This established a broad base of Civeo shareholders from the outset.

Absence of Angel Investors

Due to its origin as a spin-off, there were no early individual backers or angel investors in the traditional sense. The company's initial capital structure was inherited from its prior corporate affiliation.

Corporate Genesis

The company's formation as an independent entity in 2014 marks a unique corporate structure. This means Civeo's ownership history is tied to corporate restructuring rather than entrepreneurial founding.

Leadership Transition

Bradley J. Dodson assumed leadership as President and Chief Executive Officer in May 2014. His role has been central to guiding the company since its establishment as a separate entity.

Ownership Concentration

The initial ownership of Civeo was characterized by widespread public shareholding. There were no concentrated founder stakes, reflecting its public market debut.

Understanding Civeo ownership requires recognizing its corporate genesis. The company was established in 2014 through a spin-off from Oil States International, Inc. This process transferred ownership directly to the shareholders of the parent company, making Civeo a publicly traded entity from its inception. Consequently, there are no individual founders in the typical sense, and information regarding specific equity splits among early backers is not applicable. Bradley J. Dodson was appointed President and Chief Executive Officer in May 2014, leading the newly independent corporation. The Civeo corporate structure reflects this public ownership model, with ownership dispersed among its Civeo shareholders. This history influences how Civeo stock ownership is viewed, with no single controlling interest stemming from a founder. The Target Market of Civeo is served by this established corporate framework.

Key Ownership Characteristics

Civeo Corporation's ownership is defined by its public trading status and its origin as a spin-off. This means that instead of founder equity, ownership is held by a broad base of shareholders.

• Publicly traded since 2014.
• Ownership distributed to former parent company shareholders.
• No traditional founder equity stakes.
• Leadership under President and CEO Bradley J. Dodson since inception.

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Since its spin-off in 2014, Civeo's ownership structure has primarily been shaped by shifts in public shareholding and the increasing influence of institutional investors. These changes have significantly impacted the company's strategic direction and how it manages its capital.

The ownership landscape of Civeo is heavily dominated by institutional investors, who collectively held approximately 82.58% of the company's shares as of April 2025. This significant institutional backing means that large investment firms and asset managers wield considerable influence over Civeo's corporate governance and strategic decisions. Horizon Kinetics Asset Management LLC stands out as a major shareholder, possessing 21.58% of the company's equities as of March 31, 2025, followed by Engine Capital Management LP with 9.716%. Other notable institutional stakeholders include TCW Group Inc, Renaissance Technologies LLC, Dimensional Fund Advisors LP, American Century Companies Inc, Avantis U.S. Small Cap Value ETF, and Blue Owl Capital Holdings LP, all contributing to the substantial institutional presence. In contrast, direct insider ownership, which includes holdings by company executives and directors, remained relatively low at 0.33% as of April 2025. CEO Bradley J. Dodson is a key insider shareholder, holding 1.99% of the company's shares. This concentration of ownership among institutional entities suggests that Civeo's capital allocation strategies, such as its focus on share repurchases and recent dividend suspensions, are largely aligned with the interests of these major investors, aiming to enhance overall shareholder value. Understanding these dynamics is crucial for anyone looking into the Competitors Landscape of Civeo.

Key Stakeholders in Civeo's Ownership

Institutional investors are the dominant force in Civeo's ownership structure. Their substantial holdings significantly influence company strategy and governance.

• Institutional investors hold over 82% of Civeo's shares.
• Horizon Kinetics Asset Management LLC is a leading institutional shareholder.
• Insider ownership, including the CEO, represents a small fraction of total shares.
• The company's capital allocation reflects the priorities of its major institutional stakeholders.

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Civeo Corporation's Board of Directors, as of 2025, comprises eight members, including Chairman Richard A. Navarre and President and CEO Bradley J. Dodson. The board's composition reflects a blend of executive leadership and independent directors, with an average tenure of 11.2 years, indicating a seasoned group overseeing the company's operations.

Civeo operates under a standard one-share-one-vote system, meaning each share of common stock grants its holder one vote. This structure ensures that voting power is directly proportional to the number of shares owned, a common practice for publicly traded entities. While no specific individuals or entities are noted to possess special voting rights that would grant disproportionate control, the influence of significant institutional investors on Civeo's strategic direction is notable. For instance, in March 2025, activist investor Engine Capital LP, holding approximately 9.8% of Civeo's outstanding shares, actively engaged with the Board. Their advocacy for capital allocation changes, such as ceasing dividends and initiating a substantial share repurchase program, underscores the impact major shareholders can have on corporate governance and financial decisions, as detailed in discussions around the Marketing Strategy of Civeo.

Shareholder Influence on Civeo

Major shareholders can significantly influence Civeo's strategic direction and capital allocation decisions. Activist investors, in particular, leverage their stake to advocate for specific corporate changes.

• Engine Capital LP holds approximately 9.8% of Civeo's shares.
• Activist campaigns can lead to changes in dividend policies and share repurchase programs.
• Institutional investors' engagement with the board is a key aspect of Civeo's corporate governance.
• The one-share-one-vote structure ensures voting power aligns with share ownership.

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Over the past three to five years, Civeo's ownership trends have been significantly influenced by its active capital return strategy, particularly through share repurchases, and strategic expansion in key markets. This period has seen a notable shift in its shareholder base and corporate actions aimed at enhancing shareholder value.

Civeo has demonstrated a strong commitment to returning capital to its shareholders, evidenced by its substantial share repurchase program initiated in 2021. The company has bought back approximately 27% of its common shares outstanding since the program's inception. A new authorization in March 2025 allows for repurchasing up to 10% of shares, later increased to 20% over twelve months, with a commitment to allocate no less than 100% of its annual free cash flow to this program. This aggressive buyback strategy, coupled with the suspension of its quarterly cash dividend in Q1 2025, underscores a strategic pivot towards share value enhancement, partly in response to macroeconomic conditions in Canada.

Share Repurchase Focus

Civeo's aggressive share repurchase program, aiming to buy back up to 20% of outstanding shares, highlights a strategy focused on increasing shareholder value. The company is dedicating at least 100% of its free cash flow to this initiative.

Strategic Acquisitions

In Q2 2025, Civeo acquired four villages in Australia's Bowen Basin, strengthening its presence in a growth market. This acquisition is expected to be immediately accretive to cash flow.

Operational Adjustments

The company implemented a 25% workforce reduction in its Canadian operations. This move aligns with broader industry trends emphasizing capital efficiency and adapting to market challenges.

Financial Outlook

Full-year 2025 revenue guidance remains between $640 million and $670 million, with adjusted EBITDA projected between $86 million and $96 million. Capital expenditures are anticipated to be between $20 million and $25 million.

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