Civeo (NYSE:CVEO) Stock Crosses Below Two Hundred Day Moving Average – Here’s Why

by · The Markets Daily

Shares of Civeo Corporation (NYSE:CVEO – Get Free Report) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $22.73 and traded as low as $22.34. Civeo shares last traded at $22.7250, with a volume of 35,824 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVEO. Wall Street Zen upgraded shares of Civeo from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “sell (d)” rating on shares of Civeo in a research report on Monday, December 8th. Finally, Zacks Research raised Civeo from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Civeo has an average rating of “Hold” and a consensus price target of $27.00.

View Our Latest Stock Report on Civeo

Civeo Stock Up 0.2%

The firm’s fifty day moving average is $21.98 and its two-hundred day moving average is $22.74. The firm has a market cap of $261.79 million, a price-to-earnings ratio of -10.77 and a beta of 0.60. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.64 and a quick ratio of 1.57.

Civeo (NYSE:CVEO – Get Free Report) last released its quarterly earnings results on Friday, October 31st. The business services provider reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.24). The company had revenue of $170.49 million for the quarter, compared to the consensus estimate of $177.04 million. Civeo had a negative return on equity of 12.10% and a negative net margin of 4.57%. On average, sell-side analysts expect that Civeo Corporation will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Civeo

A number of institutional investors have recently added to or reduced their stakes in CVEO. Engine Capital Management LP bought a new position in shares of Civeo during the 1st quarter valued at about $30,777,000. Charles Schwab Investment Management Inc. acquired a new stake in Civeo during the first quarter valued at approximately $1,070,000. Goldman Sachs Group Inc. bought a new stake in Civeo during the first quarter worth approximately $204,000. American Century Companies Inc. grew its position in Civeo by 7.4% in the second quarter. American Century Companies Inc. now owns 470,826 shares of the business services provider’s stock worth $10,871,000 after buying an additional 32,452 shares during the last quarter. Finally, Clough Capital Partners L P acquired a new position in Civeo in the first quarter worth approximately $728,000. 81.44% of the stock is currently owned by institutional investors and hedge funds.

Civeo Company Profile

(Get Free Report)

Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, and the United States. The company develops lodges and villages; and mobile assets, including modular, skid-mounted accommodation, and central facilities that provide short to medium-term accommodation needs.

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