Civeo (NYSE:CVEO) Stock Crosses Above 50-Day Moving Average – What’s Next?

Civeo Corporation (NYSE:CVEO)’s stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty 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 traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings cut Civeo from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. Stifel Nicolaus raised 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 research 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $37.00.

Civeo Stock Performance

The stock has a market capitalization of $376.28 million, a PE ratio of -28.90 and a beta of 0.74. 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 firm’s 50 day moving average is $31.47 and its two-hundred day moving average is $27.52.

Civeo (NYSE:CVEO) last issued 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 net margin of 2.10% and a negative return on equity of 7.72%. The company had revenue of $172.67 million during the quarter, compared to analysts’ expectations of $154.70 million. As a group, research analysts predict that Civeo Corporation will post -1.1 earnings per share for the current year.

Institutional Investors Weigh In On Civeo

Several large investors have recently bought and sold shares of CVEO. Goldman Sachs Group Inc. purchased a new stake in Civeo during the 1st quarter worth about $204,000. Empowered Funds LLC grew its position in shares of Civeo by 5.5% during the first quarter. Empowered Funds LLC now owns 106,318 shares of the business services provider’s stock worth $2,445,000 after buying an additional 5,570 shares in the last quarter. State of Wyoming acquired a new position in shares of Civeo during the second quarter worth about $66,000. GSA Capital Partners LLP purchased a new stake in shares of Civeo during the third quarter worth approximately $1,045,000. Finally, CenterBook Partners LP purchased a new stake in shares of Civeo during the third quarter worth approximately $930,000. Hedge funds and other 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.