Civeo (NYSE:CVEO) Stock Passes Above Fifty Day Moving Average - Here's Why

Civeo Co. (NYSE:CVEO - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $23.21 and traded as high as $24.10. Civeo shares last traded at $23.75, with a volume of 51,730 shares.

Wall Street Analysts Forecast Growth

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

Civeo Stock Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.28. The firm has a market capitalization of $324.37 million, a PE ratio of 16.83 and a beta of 1.99. The firm has a fifty day moving average price of $23.17 and a 200 day moving average price of $25.56.

Civeo (NYSE:CVEO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.38). The firm had revenue of $176.34 million for the quarter, compared to analysts' expectations of $172.59 million. Civeo had a net margin of 3.00% and a return on equity of 0.11%. During the same period in the prior year, the company posted $0.61 earnings per share. Research analysts anticipate that Civeo Co. will post -0.58 earnings per share for the current fiscal year.

Civeo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Monday, February 24th. Civeo's dividend payout ratio is 71.43%.

Hedge Funds Weigh In On Civeo

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVEO. SG Americas Securities LLC lifted its position in shares of Civeo by 42.4% in the fourth quarter. SG Americas Securities LLC now owns 6,552 shares of the business services provider's stock worth $149,000 after purchasing an additional 1,950 shares in the last quarter. Quantbot Technologies LP acquired a new position in Civeo in the 3rd quarter valued at approximately $68,000. Quent Capital LLC purchased a new stake in Civeo in the 3rd quarter worth approximately $100,000. Empowered Funds LLC boosted its stake in shares of Civeo by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 95,863 shares of the business services provider's stock valued at $2,627,000 after buying an additional 4,824 shares during the period. Finally, State Street Corp purchased a new position in shares of Civeo during the 3rd quarter valued at $222,000. 81.44% of the stock is currently owned by hedge funds and other institutional investors.

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.