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

Cathedral Energy Services (TSE:CET) had its target price cut by ATB Capital from C$1.60 to C$1.50 in a research note issued to investors on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Cathedral Energy Services Trading Down 1.1 %

CET opened at C$0.89 on Friday. The company’s 50 day moving average is C$0.90 and its 200-day moving average is C$0.86. The company has a market cap of C$213.90 million, a P/E ratio of 11.13, a PEG ratio of -1.64 and a beta of 2.64. Cathedral Energy Services has a 1-year low of C$0.58 and a 1-year high of C$0.98. The company has a current ratio of 1.46, a quick ratio of 1.05 and a debt-to-equity ratio of 64.02.

Cathedral Energy Services (TSE:CET) last issued its earnings results on Thursday, May 9th. The company reported C$0.04 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.06 by C($0.02). The company had revenue of C$164.96 million during the quarter, compared to analyst estimates of C$148.50 million. Cathedral Energy Services had a net margin of 3.71% and a return on equity of 12.31%. Equities research analysts predict that Cathedral Energy Services will post 0.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Lee Harns sold 1,000,000 shares of Cathedral Energy Services stock in a transaction dated Monday, June 10th. The stock was sold at an average price of C$0.60, for a total transaction of C$600,000.00. In other news, Senior Officer Lee Harns sold 1,000,000 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of C$0.60, for a total transaction of C$600,000.00. Also, Senior Officer Fawzi Irani sold 131,095 shares of the business’s stock in a transaction 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

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.