Civeo (NYSE:CVEO) Stock Price Passes Above 50-Day Moving Average – Here’s What Happened

Civeo Co. (NYSE:CVEO)’s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-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 changing hands.

Wall Street Analyst Weigh In

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

Civeo Stock Performance

The business’s fifty day moving average is $23.47 and its 200-day moving average is $25.52. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 0.18. The company has a market cap of $331.72 million, a PE ratio of 17.21 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 the consensus estimate of $0.02 by ($0.38). Civeo had a return on equity of 0.11% and a net margin of 3.00%. The business had revenue of $176.34 million during the quarter, compared to the consensus estimate of $172.59 million. During the same quarter in the previous year, the business posted $0.61 earnings per share. As a group, research analysts predict that Civeo Co. will post -0.58 EPS for the current fiscal year.

Civeo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 25th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Monday, November 25th. Civeo’s dividend payout ratio is presently 71.43%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CVEO. American Century Companies Inc. increased its holdings in Civeo by 22.4% in the 2nd quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider’s stock worth $6,355,000 after acquiring an additional 46,633 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Civeo by 10.0% in the second quarter. Dimensional Fund Advisors LP now owns 439,427 shares of the business services provider’s stock worth $10,950,000 after purchasing an additional 39,987 shares during the period. Bank of Montreal Can purchased a new stake in shares of Civeo in the second quarter worth $947,000. Aristides Capital LLC bought a new stake in shares of Civeo during the 2nd quarter valued at $213,000. Finally, Quent Capital LLC purchased a new position in shares of Civeo during the 3rd quarter valued at $100,000. Institutional investors own 81.44% of the company’s stock.

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.