Civeo (NYSE:CVEO) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

Civeo Corporation (NYSE:CVEO) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $30.63 and traded as high as $34.98. Civeo shares last traded at $34.7920, with a volume of 58,800 shares trading hands.

Analyst Upgrades and Downgrades

CVEO has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price target on shares of Civeo from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Weiss Ratings cut shares of Civeo from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $37.00.

Civeo Stock Up 1.9%

The business’s 50 day moving average is $30.63 and its 200-day moving average is $26.97. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.88 and a quick ratio of 1.81. The company has a market cap of $380.73 million, a PE ratio of -29.24 and a beta of 0.73.

Civeo (NYSE:CVEO) last issued its quarterly earnings results on Friday, May 1st. The business services provider reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.27. Civeo had a negative net margin of 2.10% and a negative return on equity of 7.72%. The company had revenue of $172.67 million during the quarter, compared to the consensus estimate of $154.70 million. As a group, analysts predict that Civeo Corporation will post -0.67 EPS for the current year.

Insiders Place Their Bets

In other Civeo news, SVP Peter Mccann sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $28.64, for a total transaction of $114,560.00. Following the sale, the senior vice president owned 50,942 shares of the company’s stock, valued at approximately $1,458,978.88. This trade represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.50% of the company’s stock.

Institutional Trading of Civeo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp acquired a new position in shares of Civeo in the 1st quarter valued at $217,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Civeo by 12.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 126,478 shares of the business services provider’s stock valued at $3,347,000 after acquiring an additional 13,564 shares during the period. Sei Investments Co. increased its holdings in shares of Civeo by 104.2% in the 1st quarter. Sei Investments Co. now owns 71,487 shares of the business services provider’s stock valued at $1,892,000 after acquiring an additional 36,487 shares during the period. Dimensional Fund Advisors LP grew its position in Civeo by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 639,272 shares of the business services provider’s stock valued at $16,915,000 after buying an additional 11,114 shares during the last quarter. Finally, Ritholtz Wealth Management grew its position in Civeo by 9.4% in the 1st quarter. Ritholtz Wealth Management now owns 40,352 shares of the business services provider’s stock valued at $1,068,000 after buying an additional 3,470 shares during the last quarter. Institutional investors and hedge funds own 81.44% of the company’s stock.

About Civeo

Civeo Corporation is a leading provider of workforce accommodations and integrated facility management services, primarily serving the oil and gas, mining, and construction sectors. The company specializes in the development, ownership, and operation of remote lodging facilities, commonly known as “man camps,” designed to house workers in geographically challenging environments. Its services include turnkey accommodations, catering, housekeeping, grounds maintenance, and logistical support, tailored to meet the needs of large-scale energy and resource projects.

With a network of lodges and villages across North America and Australia, Civeo caters to clients operating in regions such as Alberta’s oil sands, the Bakken shale play, and Australia’s Pilbara and Bowen Basin mining districts.