Cathedral Energy Services | StockChase
58
Cathedral Energy Services (CET-T)

Last Price Recorded: $1.6600 on 2017-11-21

ON STOCKCHASE SINCE Jul 2004

oil/gas field services

Cathedral Energy Services


Signal Opinion Expert

2017-11-03

TOP PICK
Cathedral Energy Services (CET-T)

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.)

oil/gas field services
Benj Gallander

President, Contra the Heard Investment Letter

Price: $1.690
Owned: Yes

2016-12-05

DON'T BUY
Cathedral Energy Services (CET-T)

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.

oil/gas field services
Alex Ruus

Portfolio Manager, Arrow Capital Management

Price: $0.510
Owned: No

2016-08-05

COMMENT
Cathedral Energy Services (CET-T)

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.

oil/gas field services
Benj Gallander

President, Contra the Heard Investment Letter

Price: $0.700
Owned: Yes

2016-04-20

PAST TOP PICK
Cathedral Energy Services (CET-T)

(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.

oil/gas field services
Benj Gallander

President, Contra the Heard Investment Letter

Price: $0.320
Owned: Yes

2016-03-01

PAST TOP PICK
Cathedral Energy Services (CET-T)

(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.

oil/gas field services
Benj Gallander

President, Contra the Heard Investment Letter

Price: $0.340
Owned: Yes

2016-01-20

PAST TOP PICK
Cathedral Energy Services (CET-T)

(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.

oil/gas field services
Benj Gallander

President, Contra the Heard Investment Letter

Price: $0.270
Owned: Yes

2015-05-07

TOP PICK
Cathedral Energy Services (CET-T)

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.

oil/gas field services
Benj Gallander

President, Contra the Heard Investment Letter

Price: $2.190
Owned: Yes

2015-03-26

TOP PICK
Cathedral Energy Services (CET-T)

They cut their dividend in half.  They cut their capital spending in half.  They cut half their labour cost.  They have a reasonably good balance sheet.  It is a good time to buy in now.  They are smartly managed and a number of companies in this sector will go bankrupt or chapter 11 so this will eliminate competition.

oil/gas field services
Benj Gallander

President, Contra the Heard Investment Letter

Price: $2.010
Owned: Yes

2015-02-03

TOP PICK
Cathedral Energy Services (CET-T)

They got out of the Venezuela situation where they were drilling. In the quarter ending in November, they had record revenues. Have expanded into the US. Financial statements are quite reasonable. Yield of 13.47%, but it would not surprise him if they announced a dividend cut in the future. His target price is over $10.

oil/gas field services
Benj Gallander

President, Contra the Heard Investment Letter

Price: $2.470
Owned: Yes

2013-12-06

COMMENT
Cathedral Energy Services (CET-T)

There are 2 Canadian companies that are focused around directional drilling, this one and Phoenix (PCO-X). Over the long-term, both companies have done very well but in the last 5 years, Phoenix has seemed to out execute Cathedral. Before you invest in any energy/resource type company, you have to be looking at what is going on in resource pricing or resource activity. This current pullback could be a buying opportunity.

oil/gas field services
Alex Ruus

Portfolio Manager, Arrow Capital Management

Price: $4.570
Owned: No

2010-04-26

PAST TOP PICK
Cathedral Energy Services (CET-T)
(Top Pick Apr 24/09, Up 21%) Continues to like it here. Prefers to their competitors. Management is quite good.
oil/gas field services
Andrew Cook

, Andrew Cook and Associates

Price: $5.750
Owned: Yes

2010-01-20

PAST TOP PICK
Cathedral Energy Services (CET-T)
(A Top Pick Apr 4/09. Up 22.1%.) Do a lot of horizontal drilling and businesses going quite well for them.
oil/gas field services
Andrew Cook

, Andrew Cook and Associates

Price: $5.800
Owned: Yes

2009-12-01

BUY
Cathedral Energy Services (CET-T)
Natural gas. Horizontal drilling and fraqing, which will create a lot of growth. Looks expensive on 2009 numbers but on historical earnings it traded at about 2-3 times cash flows. Thinks the market will come back. 6% yield but will be converting in a couple of months.
oil/gas field services
Charles Oliver, HBSc CFA

Senior Portfolio Manager, Sprott Asset Management Inc.

Price: $4.040
Owned: Yes

2009-11-30

PAST TOP PICK
Cathedral Energy Services (CET-T)
(A Top Pick April 24/09. Down 13.84%.) Still a Buy.
oil/gas field services
Andrew Cook

, Andrew Cook and Associates

Price: $4.080
Owned: Yes

2009-10-28

PAST TOP PICK
Cathedral Energy Services (CET-T)
(A Top Pick Apr 24/09. Down 9%.) Still likes this one. Oil/gas sector has raised a lot of money and some of this will go into drilling.
oil/gas field services
Andrew Cook

, Andrew Cook and Associates

Price: $4.140
Owned: Yes

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