Cathedral Energy Services (CET-T) Stock Predictions - Stockchase
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Cathedral Energy Services (CET-T)

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oil/gas field services

Cathedral Energy Services

CET-T

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Cathedral Energy Services (CET-T) SAVE Apr, 19, 2019, 8:41 am

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TOP PICK
Not too much debt. They almost went bankrupt. It's an energy services company that has switched more to the US because of the lack of pipelines in Canada. They've upgraded equipment to lessen breakdowns. So, there's more money coming in: over $42 million last quarter. The stock price has done nothing in the last while. They could rise a long way. Likes the managers. (Analysts’ price target is $6.84)
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Not too much debt. They almost went bankrupt. It's an energy services company that has switched more to the US because of the lack of pipelines in Canada. They've upgraded equipment to lessen breakdowns. So, there's more money coming in: over $42 million last quarter. The stock price has done nothing in the last while. They could rise a long way. Likes the managers. (Analysts’ price target is $6.84)
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Benj Gallander

President, Contra the Heard Inv...

Price Price
$0.760
Owned Owned
Yes

PAST TOP PICK
(A Top Pick Dec 08/17, Down 61%) He just doubled down on it. They got hit in oil and gas but they did a lot of smart things. They took care of expenses and changed some equipment. They moved a lot of operations from Canada to the US, where they are doing better. They have nominal debt after having taken care of it.
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(A Top Pick Dec 08/17, Down 61%) He just doubled down on it. They got hit in oil and gas but they did a lot of smart things. They took care of expenses and changed some equipment. They moved a lot of operations from Canada to the US, where they are doing better. They have nominal debt after having taken care of it.
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Benj Gallander

President, Contra the Heard Inv...

Price Price
$0.720
Owned Owned
Yes

PAST TOP PICK

(A Top Pick Nov. 3/17, Down 56%)  They looked to have turned around.  They are all of a sudden having difficulties again.  They sold 6 old rigs and bought 7 new ones.  They are having some competition for labour.  The company is still on the buy list.

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(A Top Pick Nov. 3/17, Down 56%)  They looked to have turned around.  They are all of a sudden having difficulties again.  They sold 6 old rigs and bought 7 new ones.  They are having some competition for labour.  The company is still on the buy list.

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Benj Gallander

President, Contra the Heard Inv...

Price Price
$0.760
Owned Owned
Yes

BUY

It's on his buy list.  They are nominally profitable.  They are having trouble getting workers.  There are definite red flags but he is happy to hold it.  It is a recovery play. 

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It's on his buy list.  They are nominally profitable.  They are having trouble getting workers.  There are definite red flags but he is happy to hold it.  It is a recovery play. 

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Benj Gallander

President, Contra the Heard Inv...

Price Price
$1.170
Owned Owned
Yes

BUY

He paid a price higher than this stock’s current level but he thinks it is recovering. He likes current management. They eliminated their debt, but they might be on the verge of taking on some debt now. The company used to pay a dividend and he thinks they might reinstate it. He sees tremendous upside. The rising price of oil is good for Cathedral. A drag on their business is the difficulty in finding new employees and the likely higher cost of their wages.

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He paid a price higher than this stock’s current level but he thinks it is recovering. He likes current management. They eliminated their debt, but they might be on the verge of taking on some debt now. The company used to pay a dividend and he thinks they might reinstate it. He sees tremendous upside. The rising price of oil is good for Cathedral. A drag on their business is the difficulty in finding new employees and the likely higher cost of their wages.

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Benj Gallander

President, Contra the Heard Inv...

Price Price
$1.360
Owned Owned
No

TOP PICK

Revenues have gone up 82% last year and they have a new line of credit.  The rig count is rising and the payment per day has gone up dramatically.  He thinks this could trade back into the double-digits.  He doesn’t know where oil prices will go, but it seems reasonably priced.  Yield 0%.  (Analysts’ price target is $2.38 )

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Revenues have gone up 82% last year and they have a new line of credit.  The rig count is rising and the payment per day has gone up dramatically.  He thinks this could trade back into the double-digits.  He doesn’t know where oil prices will go, but it seems reasonably priced.  Yield 0%.  (Analysts’ price target is $2.38 )

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Benj Gallander

President, Contra the Heard Inv...

Price Price
$1.600
Owned Owned
Yes

BUY

He holds this in the President’s portfolio. It sells now for half of what he paid for it, it had a near-death experience but they have recapitalized, gotten rid of their high debt, and he likes the management. It has a great balance sheet in this sector. He thinks it could double or triple from here.

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He holds this in the President’s portfolio. It sells now for half of what he paid for it, it had a near-death experience but they have recapitalized, gotten rid of their high debt, and he likes the management. It has a great balance sheet in this sector. He thinks it could double or triple from here.

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Benj Gallander

President, Contra the Heard Inv...

Price Price
$1.520
Owned Owned
Yes

TOP PICK

He likes this a lot. Had paid $3.11 for it, and it went down to around $.30. They recapitalized and now have debt under $1 million. The Wilkes Brothers, billionaires out of Texas, invest in a lot of companies and companies generally do well when they do that. They’ve been buying a lot of shares, which has helped to spike the stock price. Management has done a really good job in turning the company around. (Analysts’ price target is $2.25.)

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He likes this a lot. Had paid $3.11 for it, and it went down to around $.30. They recapitalized and now have debt under $1 million. The Wilkes Brothers, billionaires out of Texas, invest in a lot of companies and companies generally do well when they do that. They’ve been buying a lot of shares, which has helped to spike the stock price. Management has done a really good job in turning the company around. (Analysts’ price target is $2.25.)

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Benj Gallander

President, Contra the Heard Inv...

Price Price
$1.850
Owned Owned
Yes

TOP PICK

A drilling company. Got absolutely hammered with oil/gas prices. Had paid $3.11, and it had dropped to about $0.35. Currently it’s around $1.50-$1.60, so it has come back nicely. Paid off all their debt. Made about $186,000 last quarter. Wilkes Brothers out of Texas have been buying a ton of stock. They bought into Trican Well Services (TCW-T), which has gone up like crazy. He is hopeful this might do the same. (Analysts' price target is $1.75.)

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A drilling company. Got absolutely hammered with oil/gas prices. Had paid $3.11, and it had dropped to about $0.35. Currently it’s around $1.50-$1.60, so it has come back nicely. Paid off all their debt. Made about $186,000 last quarter. Wilkes Brothers out of Texas have been buying a ton of stock. They bought into Trican Well Services (TCW-T), which has gone up like crazy. He is hopeful this might do the same. (Analysts' price target is $1.75.)

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Benj Gallander

President, Contra the Heard Inv...

Price Price
$1.690
Owned Owned
Yes

DON'T BUY

There is starting to be some interest in oilfield services. His initial reaction is to continue to stay away. A lot of these companies are continuing to lose a fair bit of cash. A lot of stocks are starting to turn in anticipation of improving conditions. While drilling activity has started to pick up, and there are talks of potential price increases at the field level, it will be a muted approach and a muted response in pricing, which will restrain profitability for quite a while. Essential Services (ESN-T) would be a more substantial, safer pick in this area.

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There is starting to be some interest in oilfield services. His initial reaction is to continue to stay away. A lot of these companies are continuing to lose a fair bit of cash. A lot of stocks are starting to turn in anticipation of improving conditions. While drilling activity has started to pick up, and there are talks of potential price increases at the field level, it will be a muted approach and a muted response in pricing, which will restrain profitability for quite a while. Essential Services (ESN-T) would be a more substantial, safer pick in this area.

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Alex Ruus

Portfolio , Arrow Capital Manage...

Price Price
$0.510
Owned Owned
No

COMMENT

He has faith in management. Their debt load was not all that heavy when he bought this, and it is not all that heavy now. Revenues for drillers are regularly going down by 50%. A very high risk company. It has tremendous upside if it can recover, but oil/gas prices have to go up.

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He has faith in management. Their debt load was not all that heavy when he bought this, and it is not all that heavy now. Revenues for drillers are regularly going down by 50%. A very high risk company. It has tremendous upside if it can recover, but oil/gas prices have to go up.

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Benj Gallander

President, Contra the Heard Inv...

Price Price
$0.700
Owned Owned
Yes

PAST TOP PICK

(A Top Pick May 7/15. Down 85.45%.) This is a question of survival. Their revenues went down 66% last quarter year-over-year. They eliminated the dividend. Have some leading edge technology and there is a reasonable possibility they will survive. If it survives, it could be a 10 bagger.

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(A Top Pick May 7/15. Down 85.45%.) This is a question of survival. Their revenues went down 66% last quarter year-over-year. They eliminated the dividend. Have some leading edge technology and there is a reasonable possibility they will survive. If it survives, it could be a 10 bagger.

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Benj Gallander

President, Contra the Heard Inv...

Price Price
$0.320
Owned Owned
Yes

PAST TOP PICK

(A Top Pick March 26/15. Down 82.46%.) A driller and has been an absolute disaster. He has had very few blowouts in the past few years, but this one was absolutely brutal. Eliminated their dividend, revenues have gone way, way down, and they have had to lay off a lot of staff. There is a good chance they will survive, but there is no guarantee. Now has it as a Hold.

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(A Top Pick March 26/15. Down 82.46%.) A driller and has been an absolute disaster. He has had very few blowouts in the past few years, but this one was absolutely brutal. Eliminated their dividend, revenues have gone way, way down, and they have had to lay off a lot of staff. There is a good chance they will survive, but there is no guarantee. Now has it as a Hold.

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Benj Gallander

President, Contra the Heard Inv...

Price Price
$0.340
Owned Owned
Yes

PAST TOP PICK

(A Top Pick Feb 3/15. Down 87.65%.) He is less certain as to whether this will be a survivor. For people who are very risk adverse, they might want to sell this. If oil/gas goes up, this could be a 10 bagger. The difficulty is, their revenues are getting absolutely killed.

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(A Top Pick Feb 3/15. Down 87.65%.) He is less certain as to whether this will be a survivor. For people who are very risk adverse, they might want to sell this. If oil/gas goes up, this could be a 10 bagger. The difficulty is, their revenues are getting absolutely killed.

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Benj Gallander

President, Contra the Heard Inv...

Price Price
$0.270
Owned Owned
Yes

TOP PICK

This is a drilling company. Revenues have dropped from $77 million last year to about $50 million. Have also cut back on their capital plan and their dividend which makes sense. His concern was that the debt load had crept up to about $55 million, but they have now cut that back to $38 million. Very smart management.

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This is a drilling company. Revenues have dropped from $77 million last year to about $50 million. Have also cut back on their capital plan and their dividend which makes sense. His concern was that the debt load had crept up to about $55 million, but they have now cut that back to $38 million. Very smart management.

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Benj Gallander

President, Contra the Heard Inv...

Price Price
$2.190
Owned Owned
Yes

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