A company insider recently sold 500,000 shares of Civeo Corporation [CVEO]. Should You Sale?


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Civeo Corporation shares valued at $16,000,000 were sold by Torgerson Lance on Feb 08. At $32.00 per share, Torgerson Lance sold 500,000 shares. The insider’s holdings dropped to 1,219,188 shares worth approximately $27.01 million following the completion of this transaction.

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Also, LAMBERT MARTIN sold 10,665 shares, netting a total of over 335,628 in proceeds. Following the sale of shares at $31.47 each, the insider now holds 30,415 shares.

Before that, LAMBERT MARTIN had sold 10,348 shares from its account. In a trade valued at $320,891, the Director traded Civeo Corporation shares for $31.01 each. Upon closing the transaction, the insider’s holdings decreased to 10,348 shares, worth approximately $0.91 million.

As published in their initiating research note from RBC Capital Mkts on April 10, 2017, Civeo Corporation [CVEO] has been a Sector perform and the price target has been revised to $3.50. This represents a -532.86% premium over Wednesday’s closing price. Analysts at Scotia Howard Weil downgraded the stock from ‘”a Focus stock”‘ to ‘”a Sector outperform”‘ outlook in a report released in mid July. As of June 22, 2016, Scotia Howard Weil has increased its “Sector outperform” rating to a “Focus stock” for CVEO. Earlier on May 06, 2016, Scotia Howard Weil resumed its rating. Their recommendation was “a Sector outperform” for CVEO stock.

Analyzing CVEO Stock Performance

On Wednesday, Civeo Corporation [NYSE: CVEO] plunged -21.76% to $22.15. The stock’s lowest price that day was $22.00, but it reached a high of $28.18 in the same session. During the last five days, there has been a drop of approximately -30.82%. Over the course of the year, Civeo Corporation shares have dropped approximately -28.78%. Shares of the company reached a 52-week high of $36.88 on 02/02/23 and a 52-week low of $22.00 on 03/01/23. A 50-day SMA is recorded $32.10, while a 200-day SMA reached $29.01. Nevertheless, trading volume fell to 1.16 million shares from 40200.0 shares the previous day.

Support And Resistance Levels for Civeo Corporation (CVEO)

According to the 24-hour chart, there is a support level at 20.04, which, if violated, would cause prices to drop to 17.93. In the upper region, resistance lies at 26.22. The next price resistance is at 30.29. RSI (Relative Strength Index) is 18.32 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.57, which suggests the price will decrease in the coming days. Percent R is at 98.87%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Civeo Corporation subject to short interest?

Stocks of Civeo Corporation saw a sharp rise in short interest on Jan 30, 2023 jumping by 3930.0 shares to 49100.0. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 45170.0 shares. A jump of 8.0% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.5 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.5.

Which companies own the most shares of Civeo Corporation (CVEO)?

According to Horizon Kinetics Asset Management filings, the company currently owns 3,870,376 shares, which is about 28.23% of the total CVEO shares outstanding. The investor’s shares have appreciated by 287,206 from its previous 13-F filing of 3583170.0 shares. With the completion of the sale transaction, Fidelity Management & Research Co’s stake is now worth $39,546,831. Conversant Capital LLC reduced a -13.31% interest valued at $28.43 million while Prescott Group Capital Management 0 stake. In its current portfolio, MRM-Horizon Advisors LLC holds 344,100 shares valued at $11.79 million.

In terms of Civeo Corporation share price expectations, FactSet research, analysts set an average price target of $36.00 in the next 12 months, up nearly 27.16% from the previous closing price of $28.31. Analysts anticipate Civeo Corporation stock to reach $39.00 by 2023, with the lowest price target being $33.00. In spite of this, 1 analysts ranked Civeo Corporation stock as a Buy at the end of 2023. On September 15, 2015, Scotia Howard Weil assigned a price target of “a Sector outperform” to the stock and upgraded coverage with a $5.


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