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

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

Cathedral Energy Services Trading Down 1.1 %

CET opened at C$0.89 on Friday. The firm has a market capitalization of C$213.90 million, a P/E ratio of 11.13, a P/E/G ratio of -1.64 and a beta of 2.64. The firm’s 50 day moving average is C$0.90 and its 200-day moving average is C$0.86. Cathedral Energy Services has a 52-week low of C$0.58 and a 52-week high of C$0.98. The company has a quick ratio of 1.05, a current ratio of 1.46 and a debt-to-equity ratio of 64.02.

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

Insider Activity

In other news, Senior Officer Lee Harns sold 1,000,000 shares of the firm’s 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 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 that occurred 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 firm’s 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

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.