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

Civeo Corporation (NYSE:CVEO) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $24.39 and traded as high as $29.18. Civeo shares last traded at $28.4550, with a volume of 33,828 shares.

Analyst Upgrades and Downgrades

CVEO has been the topic of a number of recent research reports. Stifel Nicolaus set a $33.00 target price on Civeo and gave the company a “buy” rating in a report on Thursday, February 5th. Zacks Research raised shares of Civeo from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Wall Street Zen upgraded shares of Civeo from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Civeo in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $33.00.

Civeo Trading Up 0.4%

The stock’s 50 day simple moving average is $24.51 and its two-hundred day simple moving average is $23.23. The stock has a market capitalization of $330.94 million, a PE ratio of -13.62 and a beta of 0.63. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.64 and a quick ratio of 1.57.

Institutional Trading of Civeo

Several hedge funds have recently made changes to their positions in CVEO. Charles Schwab Investment Management Inc. grew its stake in shares of 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 acquiring an additional 52,660 shares during the period. Boston Partners boosted its position in Civeo by 12.4% during the fourth quarter. Boston Partners now owns 161,911 shares of the business services provider’s stock worth $3,703,000 after purchasing an additional 17,871 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Civeo by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 628,158 shares of the business services provider’s stock worth $14,366,000 after purchasing an additional 9,784 shares in the last quarter. Empowered Funds LLC raised its position in shares of Civeo by 5.5% in the fourth 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, Lido Advisors LLC lifted its stake in shares of Civeo by 12.7% during the 4th quarter. Lido Advisors LLC now owns 25,909 shares of the business services provider’s stock valued at $596,000 after buying an additional 2,916 shares in the last quarter. 81.44% of the stock is currently owned by institutional investors.

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.