Cathedral Energy Services (TSE:CET) Reaches New 52-Week High at $6.85

Cathedral Energy Services Ltd. (TSE:CET)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$6.85 and last traded at C$6.85, with a volume of 8100 shares traded. The stock had previously closed at C$6.70.

Wall Street Analysts Forecast Growth

Separately, ATB Capital reduced their price objective on shares of Cathedral Energy Services from C$1.60 to C$1.50 and set an “outperform” rating for the company in a research note on Friday, June 28th.

Cathedral Energy Services Price Performance

The company has a current ratio of 1.46, a quick ratio of 1.05 and a debt-to-equity ratio of 64.02. The stock has a fifty day simple moving average of C$2.29 and a 200-day simple moving average of C$1.37. The stock has a market cap of C$1.65 billion, a price-to-earnings ratio of 83.75, a price-to-earnings-growth ratio of -1.64 and a beta of 2.64.

Cathedral Energy Services (TSE:CET) last announced its quarterly earnings data on Thursday, May 9th. The company reported C$0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 12.31% and a net margin of 3.71%. As a group, equities research analysts expect that Cathedral Energy Services Ltd. will post 0.15 EPS for the current year.

Insider Activity

In other news, Senior Officer Fawzi Irani sold 131,095 shares of Cathedral Energy Services stock in a transaction dated Monday, June 24th. The shares were sold at an average price of C$0.87, for a total transaction of C$114,052.65. In other Cathedral Energy Services news, Senior Officer Lee Harns sold 1,000,000 shares of the business’s stock in a transaction dated 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 the 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 transaction of C$114,052.65. 21.55% of the stock is owned by company insiders.

About Cathedral Energy Services

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.