Civeo (NYSE:CVEO) SVP Peter Mccann Sells 4,000 Shares

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

Civeo Stock Down 0.4%

Shares of CVEO traded down $0.11 during midday trading on Friday, reaching $28.90. 71,692 shares of the stock were exchanged, compared to its average volume of 83,105. The company has a market cap of $316.46 million, a price-to-earnings ratio of -18.41, a P/E/G ratio of 79.12 and a beta of 0.57. The company has a quick ratio of 1.57, a current ratio of 1.54 and a debt-to-equity ratio of 1.05. Civeo Corporation has a 12-month low of $18.01 and a 12-month high of $29.68. The firm has a 50 day simple moving average of $26.12 and a 200-day simple moving average of $23.74.

Civeo (NYSE:CVEO) last announced its quarterly 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). Civeo had a negative net margin of 3.14% and a negative return on equity of 10.20%. The firm had revenue of $161.62 million during the quarter, compared to the consensus estimate of $170.17 million. Research analysts forecast that Civeo Corporation will post -0.58 EPS for the current year.

Institutional Investors Weigh In On Civeo

A number of large investors have recently added to or reduced their stakes in CVEO. Empowered Funds LLC grew its holdings in Civeo by 5.5% during the fourth quarter. Empowered Funds LLC now owns 109,216 shares of the business services provider’s stock valued at $2,498,000 after purchasing an additional 5,702 shares during the last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of Civeo in the fourth quarter worth $573,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Civeo by 38.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 189,057 shares of the business services provider’s stock worth $4,324,000 after buying an additional 52,660 shares during the period. Boston Partners boosted its holdings in shares of Civeo by 12.4% during the 4th quarter. Boston Partners now owns 161,911 shares of the business services provider’s stock worth $3,703,000 after buying an additional 17,871 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake 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 buying an additional 9,784 shares during the last quarter. Institutional investors own 81.44% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CVEO. Stifel Nicolaus increased their price target on shares of Civeo from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings reiterated a “sell (d)” rating on shares of Civeo in a report on Monday, December 29th. Finally, Zacks Research raised shares of 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 given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.