Civeo (NYSE:CVEO) SVP Sells $114,560.00 in Stock

Civeo Corporation (NYSE:CVEO) SVP Peter Mccann sold 4,000 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $28.64, for a total transaction of $114,560.00. Following the transaction, the senior vice president owned 50,942 shares in the company, valued at approximately $1,458,978.88. This trade represents a 7.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Civeo Stock Down 0.4%

CVEO stock opened at $28.90 on Monday. The company has a current ratio of 1.54, a quick ratio of 1.47 and a debt-to-equity ratio of 1.05. Civeo Corporation has a 1 year low of $18.01 and a 1 year high of $29.68. The company has a fifty day simple moving average of $26.12 and a 200 day simple moving average of $23.76. The firm has a market cap of $316.46 million, a PE ratio of -18.41 and a beta of 0.57.

Civeo (NYSE:CVEO) last posted its earnings results on Tuesday, March 3rd. The business services provider reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.15). The business had revenue of $161.62 million for the quarter, compared to analyst estimates of $170.17 million. Civeo had a negative return on equity of 10.20% and a negative net margin of 3.14%. Sell-side analysts anticipate that Civeo Corporation will post -0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Civeo

Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in Civeo by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 628,158 shares of the business services provider’s stock valued at $14,366,000 after purchasing an additional 9,784 shares during the period. American Century Companies Inc. increased its holdings in shares of Civeo by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 470,826 shares of the business services provider’s stock worth $10,871,000 after purchasing an additional 32,452 shares during the period. Blue Owl Capital Holdings LP raised its position in shares of Civeo by 16.7% during 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. Punch & Associates Investment Management Inc. raised its position in shares of Civeo by 0.8% during the third quarter. Punch & Associates Investment Management Inc. now owns 275,585 shares of the business services provider’s stock valued at $6,338,000 after buying an additional 2,115 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Civeo by 38.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 189,057 shares of the business services provider’s stock valued at $4,324,000 after buying an additional 52,660 shares during the last quarter. 81.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Civeo from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Weiss Ratings restated a “sell (d)” rating on shares of Civeo in a report on Monday, December 29th. Finally, Zacks Research raised Civeo from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 20th. One 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, the stock currently has an average rating of “Hold” and a consensus price target of $37.00.

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.