Civeo (NYSE:CVEO) Share Price Passes Above 50 Day Moving Average – Should You Sell?

Civeo Corporation (NYSE:CVEO)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $31.47 and traded as high as $34.81. Civeo shares last traded at $34.3950, with a volume of 52,185 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CVEO shares. Weiss Ratings cut shares of Civeo from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Stifel Nicolaus increased their target price on Civeo from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Civeo presently has an average rating of “Hold” and an average price target of $37.00.

Civeo Price Performance

The stock has a market capitalization of $376.28 million, a price-to-earnings ratio of -28.90 and a beta of 0.74. The company has a quick ratio of 1.81, a current ratio of 1.88 and a debt-to-equity ratio of 1.32. The stock has a fifty day moving average of $31.47 and a 200-day moving average of $27.52.

Civeo (NYSE:CVEO) last released its quarterly earnings data on Friday, May 1st. The business services provider reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.27. The company had revenue of $172.67 million for the quarter, compared to analysts’ expectations of $154.70 million. Civeo had a negative net margin of 2.10% and a negative return on equity of 7.72%. On average, equities research analysts predict that Civeo Corporation will post -1.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Civeo

Institutional investors and hedge funds have recently bought and sold shares of the stock. CenterBook Partners LP purchased a new position in shares of Civeo during the third quarter worth about $930,000. GSA Capital Partners LLP purchased a new stake in shares of Civeo in the 3rd quarter valued at about $1,045,000. Blue Owl Capital Holdings LP lifted its holdings in shares of Civeo by 16.7% in the 4th quarter. Blue Owl Capital Holdings LP now owns 370,530 shares of the business services provider’s stock valued at $8,474,000 after purchasing an additional 53,119 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Civeo by 5.5% in the 4th quarter. Empowered Funds LLC now owns 109,216 shares of the business services provider’s stock valued at $2,498,000 after purchasing an additional 5,702 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new position in Civeo during the 4th quarter worth approximately $2,290,000. 81.44% of the stock is owned by hedge funds and other institutional investors.

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.