Civeo (NYSE:CVEO) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Civeo Co. (NYSE:CVEO)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.24 and traded as low as $20.93. Civeo shares last traded at $21.67, with a volume of 93,179 shares trading hands.

Analysts Set New Price Targets

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

Civeo Stock Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.36. The firm’s 50-day moving average price is $23.86 and its two-hundred day moving average price is $25.19. The firm has a market capitalization of $302.71 million, a price-to-earnings ratio of 15.84 and a beta of 2.03.

Civeo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be given a $0.25 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 4.51%. Civeo’s dividend payout ratio (DPR) is presently -80.00%.

Hedge Funds Weigh In On Civeo

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its position in Civeo by 3.4% in the third quarter. FMR LLC now owns 1,524,352 shares of the business services provider’s stock valued at $41,767,000 after buying an additional 50,400 shares in the last quarter. TCW Group Inc. raised its stake in shares of Civeo by 4.2% in the fourth quarter. TCW Group Inc. now owns 780,217 shares of the business services provider’s stock worth $17,727,000 after acquiring an additional 31,157 shares during the last quarter. State Street Corp bought a new position in shares of Civeo in the third quarter worth about $222,000. Meros Investment Management LP bought a new position in shares of Civeo in the third quarter worth about $2,332,000. Finally, Royce & Associates LP raised its stake in shares of Civeo by 19.0% in the third quarter. Royce & Associates LP now owns 93,931 shares of the business services provider’s stock worth $2,574,000 after acquiring an additional 15,002 shares during the last quarter. 81.44% of the stock is currently owned by institutional investors and hedge funds.

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.