Key Points
- Peter McCann, Civeo's SVP, sold 4,000 shares on March 6 at an average price of $28.64 for $114,560, reducing his stake by 7.28% to 50,942 shares (about $1.46M).
- Civeo missed quarterly expectations, reporting ($0.56) EPS versus ($0.41) expected and $161.62M revenue versus $170.17M, and the company shows negative net margin and return on equity.
- Analysts are mixed but the street average rating is a Hold with a consensus price target of $37, and institutional investors own about 81.44% of the company.
Civeo Corporation (NYSE:CVEO - Get Free Report) SVP Peter Mccann sold 4,000 shares of the firm'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 sale, the senior vice president directly owned 50,942 shares in the company, valued at approximately $1,458,978.88. This represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Civeo Stock Performance
Shares of Civeo stock traded down $0.11 during trading on Friday, reaching $28.90. The company's stock had a trading volume of 71,692 shares, compared to its average volume of 83,105. Civeo Corporation has a one year low of $18.01 and a one year high of $29.68. 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 firm has a market cap of $316.46 million, a price-to-earnings ratio of -18.41, a price-to-earnings-growth ratio of 79.12 and a beta of 0.57. The business's fifty day moving average price is $26.12 and its 200-day moving average price is $23.74.
Civeo (NYSE:CVEO - Get Free Report) last announced its 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 business 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 predict that Civeo Corporation will post -0.58 earnings per share for the current year.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on CVEO shares. Zacks Research upgraded shares of Civeo from a "strong sell" rating to a "hold" rating in a research note on Thursday, November 20th. Weiss Ratings reiterated a "sell (d)" rating on shares of Civeo in a research note on Monday, December 29th. Finally, Stifel Nicolaus raised their price target on shares of Civeo from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday. 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. According to MarketBeat.com, Civeo currently has an average rating of "Hold" and a consensus price target of $37.00.
Read Our Latest Stock Analysis on CVEO
Institutional Trading of Civeo
Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new stake in shares of Civeo during the first quarter valued at approximately $204,000. Empowered Funds LLC lifted its position in Civeo by 5.5% in the first quarter. Empowered Funds LLC now owns 106,318 shares of the business services provider's stock worth $2,445,000 after purchasing an additional 5,570 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Civeo by 5.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,029 shares of the business services provider's stock worth $855,000 after buying an additional 1,759 shares in the last quarter. American Century Companies Inc. boosted its stake in Civeo by 7.4% during the second quarter. American Century Companies Inc. now owns 470,826 shares of the business services provider's stock worth $10,871,000 after buying an additional 32,452 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Civeo in the 2nd quarter valued at $255,000. Institutional investors and hedge funds own 81.44% of the company's stock.
Civeo Company Profile
(
Get Free Report)
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.
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