Cathedral Energy Services (TSE:CET) Price Target Cut to C$1.50

Posted by Tyrone Williams on Jul 1st, 2024

Cathedral Energy Services (TSE:CET – Free Report) had its price objective reduced by ATB Capital from C$1.60 to C$1.50 in a research note released on Friday morning, BayStreet.CA reports. ATB Capital currently has an outperform rating on the stock.

Cathedral Energy Services Price Performance

Shares of CET opened at C$0.89 on Friday. Cathedral Energy Services has a 1-year low of C$0.58 and a 1-year high of C$0.98. The stock has a market cap of C$213.90 million, a PE ratio of 11.13, a P/E/G ratio of -1.64 and a beta of 2.64. The firm has a 50-day simple moving average of C$0.90 and a two-hundred day simple moving average of C$0.86. The company has a debt-to-equity ratio of 64.02, a current ratio of 1.46 and a quick ratio of 1.05.

Cathedral Energy Services (TSE:CET – Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported C$0.04 EPS for the quarter, missing the consensus estimate of C$0.06 by C($0.02). Cathedral Energy Services had a net margin of 3.71% and a return on equity of 12.31%. The business had revenue of C$164.96 million during the quarter, compared to analysts’ expectations of C$148.50 million. As a group, analysts forecast that Cathedral Energy Services will post 0.15 EPS for the current year.

Insider Activity

In other news, Senior Officer Fawzi Irani sold 131,095 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$0.87, for a total value of C$114,052.65. In related news, Senior Officer Lee Harns sold 1,000,000 shares of Cathedral Energy Services stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of C$0.60, for a total value of C$600,000.00. Also, Senior Officer Fawzi Irani sold 131,095 shares of Cathedral Energy Services stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$0.87, for a total transaction of C$114,052.65. Insiders own 21.55% of the company’s stock.

Cathedral Energy Services Company Profile

(Get Free Report)

Cathedral Energy Services Ltd., together with its subsidiaries, provides directional drilling services to oil and natural gas companies in western Canada and the United States. It offers remote directional and measurement-while-drilling (MWD), automated gamma, drilling optimization, and well planning services.