Civeo (NYSE:CVEO) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• Civeo shares crossed above their 200-day moving average, reaching $38.06 before last trading at $35.95, amid elevated trading volume.
• Third-quarter results significantly exceeded expectations: adjusted EPS was $0.50 versus an expected $0.27 loss, while revenue rose 13% year over year to $193.1 million. Operating cash flow nearly doubled, supported by stronger Canadian activity.
• Civeo raised its 2026 sales outlook, and analysts maintain a “Moderate Buy” consensus with an average $42.25 price target. However, the company still has negative margins and return on equity, elevated leverage, and analysts expect a full-year loss.

Shares of Civeo Corporation (NYSE:CVEO - Get Free Report) crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $30.99 and traded as high as $38.06. Civeo shares last traded at $35.95, with a volume of 1,092,083 shares trading hands.

Key Civeo News

Here are the key news stories impacting Civeo this week:

• Positive Sentiment: Q3 earnings beat expectations: Civeo reported adjusted earnings of $0.50 per share, versus the consensus estimate for a $0.27 loss and a $0.04 loss in the year-ago quarter. Revenue rose to $193.1 million, exceeding the $174.1 million analyst expectation. Civeo Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Improved operating performance: Third-quarter revenue increased 13% year over year, adjusted EBITDA rose 5%, and operating cash flow nearly doubled to $26.4 million. Canadian revenue climbed 38%, supported by stronger-than-expected turnaround activity. Civeo Reports Third Quarter 2026 Results
• Positive Sentiment: 2026 outlook raised: Civeo increased its full-year 2026 sales guidance to a level above analyst estimates, reinforcing expectations for continued demand and providing a key reason for the positive investor reaction. Why Civeo Shares Are Trading Higher
• Neutral Sentiment: Despite the quarterly improvement, Civeo continues to report a negative net margin and negative return on equity, while analysts still expect a full-year loss. The company’s debt-to-equity ratio also remains elevated, so investors may focus on whether the earnings improvement is sustainable. Civeo Q3 2026 Earnings Call Transcript

Analyst Ratings Changes

A number of research firms have weighed in on CVEO. Roth Capital started coverage on Civeo in a report on Thursday, October 1st. They set a "buy" rating and a $39.00 price objective on the stock. Weiss Ratings upgraded Civeo from a "sell (d-)" rating to a "sell (d)" rating in a research note on Monday, August 31st. Raymond James Financial cut Civeo from a "strong-buy" rating to a "buy" rating in a research note on Thursday, October 1st. Finally, Northland Securities initiated coverage on Civeo in a research note on Thursday, October 1st. They set an "outperform" rating and a $42.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.25.

Civeo Price Performance

The company has a market capitalization of $371.72 million, a price-to-earnings ratio of -57.06 and a beta of 0.71. The company has a quick ratio of 1.81, a current ratio of 1.89 and a debt-to-equity ratio of 1.31. The stock's 50-day simple moving average is $32.28 and its two-hundred day simple moving average is $30.99.

Civeo (NYSE:CVEO - Get Free Report) last released its earnings results on Thursday, October 29th. The business services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.77. The firm had revenue of $193.10 million during the quarter, compared to analyst estimates of $174.05 million. Civeo had a negative return on equity of 4.62% and a negative net margin of 1.08%. Equities research analysts predict that Civeo Corporation will post -1.00 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. increased its position in shares of Civeo by 104.2% in the first quarter. Sei Investments Co. now owns 71,487 shares of the business services provider's stock worth $1,892,000 after acquiring an additional 36,487 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Civeo during the 2nd quarter valued at $1,032,000. Engineers Gate Manager LP bought a new stake in shares of Civeo during the second quarter valued at approximately $217,000. OMERS ADMINISTRATION Corp bought a new position in Civeo during the first quarter worth about $217,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in Civeo by 12.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 126,478 shares of the business services provider's stock valued at $3,347,000 after buying an additional 13,564 shares in the last quarter. 81.44% of the stock is owned by institutional investors and hedge funds.

Civeo Company Profile

Civeo Corporation is a provider of workforce accommodations and related services for the natural resources and other industries that operate in remote locations. The company develops, owns and operates workforce villages, lodges and other lodging facilities designed to house employees and contractors near work sites.

Civeo's services include room accommodations, food services, housekeeping, facility management, logistics and transportation support. Its facilities are used by customers in sectors such as oil and gas, mining, and infrastructure development, where temporary or long-term workforce housing is needed.

Headquartered in Houston, Texas, Civeo serves customers primarily in Canada, Australia and the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.