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

Civeo Corporation (NYSE:CVEO) SVP Peter Mccann sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $28.64, for a total value of $114,560.00. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Civeo Stock Down 0.4%

Shares of NYSE:CVEO opened at $28.90 on Friday. The firm has a market capitalization of $316.46 million, a P/E ratio of -18.41, a P/E/G ratio of 79.23 and a beta of 0.57. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.57 and a current ratio of 1.54. The stock has a 50 day moving average price of $26.12 and a 200-day moving average price of $23.75. Civeo Corporation has a 52-week low of $18.01 and a 52-week high of $29.68.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in shares of Civeo by 1.6% in 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. American Century Companies Inc. increased its holdings in shares of Civeo by 7.4% during the second quarter. American Century Companies Inc. now owns 470,826 shares of the business services provider’s stock valued at $10,871,000 after acquiring an additional 32,452 shares in the last quarter. Blue Owl Capital Holdings LP raised its position in shares of Civeo by 16.7% in the 4th quarter. Blue Owl Capital Holdings LP now owns 370,530 shares of the business services provider’s stock worth $8,474,000 after purchasing an additional 53,119 shares during the last quarter. Punch & Associates Investment Management Inc. raised its position in shares of Civeo by 0.8% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 275,585 shares of the business services provider’s stock worth $6,338,000 after purchasing an additional 2,115 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Civeo by 38.6% in 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 purchasing an additional 52,660 shares in the last quarter. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Wall Street Analysts Forecast Growth

CVEO has been the topic of a number of research reports. Zacks Research upgraded shares of Civeo from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. 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. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Civeo in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $37.00.

Civeo Company Profile

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.