Civeo (NYSE:CVEO) Stock Passes Above Fifty Day Moving Average – Time to Sell?

Civeo Corporation (NYSE:CVEO) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $32.89 and traded as high as $33.50. Civeo shares last traded at $32.98, with a volume of 105,044 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVEO. Stifel Nicolaus boosted their price objective 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 upgraded shares of Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $37.00.

Civeo Trading Down 1.1%

The stock has a market capitalization of $360.80 million, a price-to-earnings ratio of -27.71 and a beta of 0.74. The company has a current ratio of 1.88, a quick ratio of 1.81 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average of $32.89 and a two-hundred day moving average of $28.42.

Civeo (NYSE:CVEO) last announced its quarterly earnings results on Friday, May 1st. The business services provider reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.27. Civeo had a negative return on equity of 7.72% and a negative net margin of 2.10%.The company had revenue of $172.67 million for the quarter, compared to the consensus estimate of $154.70 million. On average, research analysts expect that Civeo Corporation will post -1.1 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. bought a new stake in shares of Civeo during the fourth quarter worth $2,290,000. Millennium Management LLC raised its holdings in shares of Civeo by 217.7% in the third quarter. Millennium Management LLC now owns 128,810 shares of the business services provider’s stock valued at $2,963,000 after buying an additional 88,267 shares during the last quarter. Blue Owl Capital Holdings LP raised its holdings in shares of Civeo by 16.7% in the fourth quarter. Blue Owl Capital Holdings LP now owns 370,530 shares of the business services provider’s stock valued at $8,474,000 after buying an additional 53,119 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Civeo by 38.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 189,057 shares of the business services provider’s stock worth $4,324,000 after buying an additional 52,660 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Civeo by 104.2% during the 1st quarter. Sei Investments Co. now owns 71,487 shares of the business services provider’s stock worth $1,892,000 after acquiring an additional 36,487 shares during the last quarter. Institutional investors own 81.44% of the company’s stock.

Civeo Company Profile

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.