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

Civeo Corporation (NYSE:CVEO) SVP Peter Mccann sold 4,000 shares of the firm’s 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 completion of the sale, the senior vice president directly 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 at this hyperlink.

Civeo Trading Down 0.4%

Shares of NYSE:CVEO traded down $0.11 during midday trading on Friday, hitting $28.90. 71,692 shares of the stock traded hands, compared to its average volume of 83,105. The stock has a market capitalization of $316.46 million, a PE ratio of -18.41, a P/E/G ratio of 79.12 and a beta of 0.57. The business’s 50 day moving average is $26.12 and its two-hundred day moving average is $23.74. 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 one year low of $18.01 and a one year high of $29.68.

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

Wall Street Analysts Forecast Growth

CVEO has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Civeo in a research note on Monday, December 29th. Zacks Research raised shares of Civeo from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 20th. Finally, Stifel Nicolaus boosted their price target on shares of Civeo from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $37.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC raised its holdings in shares of Civeo by 5.5% in the fourth quarter. Empowered Funds LLC now owns 109,216 shares of the business services provider’s stock worth $2,498,000 after acquiring an additional 5,702 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of Civeo during the fourth quarter worth about $573,000. Charles Schwab Investment Management Inc. lifted its stake 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 period. Boston Partners boosted its position in Civeo by 12.4% during the fourth quarter. Boston Partners now owns 161,911 shares of the business services provider’s stock worth $3,703,000 after acquiring an additional 17,871 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Civeo by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 628,158 shares of the business services provider’s stock worth $14,366,000 after acquiring an additional 9,784 shares during the last quarter. Institutional investors and hedge funds own 81.44% of the company’s stock.

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.