Civeo (NYSE:CVEO) Share Price Passes Above 50-Day Moving Average – What’s Next?

Civeo Co. (NYSE:CVEO) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $23.50 and traded as high as $24.07. Civeo shares last traded at $23.94, with a volume of 54,150 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Civeo from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th.

Civeo Stock Performance

The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. The stock has a fifty day moving average price of $23.50 and a 200-day moving average price of $25.53. The firm has a market capitalization of $329.65 million, a price-to-earnings ratio of 17.10 and a beta of 2.03.

Civeo (NYSE:CVEO) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.38). Civeo had a net margin of 3.00% and a return on equity of 0.11%. The business had revenue of $176.34 million for the quarter, compared to analyst estimates of $172.59 million. During the same period in the prior year, the business earned $0.61 earnings per share. As a group, analysts anticipate that Civeo Co. will post -0.58 earnings per share for the current fiscal year.

Civeo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 25th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 4.18%. Civeo’s dividend payout ratio is 71.43%.

Institutional Investors Weigh In On Civeo

A number of hedge funds and other institutional investors have recently bought and sold shares of CVEO. Meros Investment Management LP bought a new position in Civeo in the 3rd quarter valued at $2,332,000. XTX Topco Ltd bought a new position in Civeo in the 3rd quarter valued at $231,000. State Street Corp bought a new position in Civeo in the 3rd quarter valued at $222,000. Quantbot Technologies LP bought a new position in Civeo in the 3rd quarter valued at $68,000. Finally, FMR LLC boosted its position in Civeo by 3.4% in the 3rd quarter. FMR LLC now owns 1,524,352 shares of the business services provider’s stock valued at $41,767,000 after buying an additional 50,400 shares during the last quarter. 81.44% of the stock is owned by institutional investors and hedge funds.

About Civeo

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.