Civeo (NYSE:CVEO) Shares Pass Above 50-Day Moving Average – Here’s Why

Civeo Corporation (NYSE:CVEO) shares crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $33.64 and traded as high as $35.66. Civeo shares last traded at $35.02, with a volume of 191,087 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, June 15th. One investment 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $37.00.

Civeo Stock Down 0.7%

The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.81 and a current ratio of 1.88. The company has a market cap of $383.12 million, a price-to-earnings ratio of -29.43 and a beta of 0.73. The business has a 50-day simple moving average of $33.64 and a 200-day simple moving average of $29.93.

Civeo (NYSE:CVEO) last announced its quarterly earnings data on Friday, May 1st. The business services provider reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $172.67 million during the quarter, compared to the consensus estimate of $154.70 million. On average, equities analysts anticipate that Civeo Corporation will post -1.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVEO. Clearstead Advisors LLC increased its position in shares of Civeo by 191.8% in the 4th quarter. Clearstead Advisors LLC now owns 1,538 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 1,011 shares during the last quarter. State of Wyoming purchased a new stake in shares of Civeo during the 2nd quarter worth $66,000. Goldman Sachs Group Inc. purchased a new stake in shares of Civeo during the 1st quarter worth $204,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Civeo during the first quarter worth $217,000. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Civeo during the fourth quarter worth $573,000. Institutional investors and hedge funds 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.