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Cathedral Energy Services Ltd. (CET.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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0.7500+0.0400 (+5.63%)
At close: 03:57PM EDT

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  • L
    Lenny
    Building momentum?
  • G
    GreenMarty
    Financials are improving every quarter but stock price seems to be going nowhere. WTI oil price is $93 but this stock has been flat for so long. I would really like it to go over $5.7 so I can get out.
  • N
    Nicholas
    So much for earnings 💀
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    My analysis:
    - Oil companies are making tons of money.
    - They will spend this money on new wells to grow.
    - Cathedral will get tons of contracts and make money.
    - This is a late-cycle boomer. Not seeing as much growth as the oil companies yet because the oil companies are just starting to have enough money to drill more wells.

    Hold on, we are mooning soon!!
  • C
    Colin
    I mean I like the acquisitions.. but I m not a huge fan of my shares constantly getting diluted.
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    Wow. Look at my last couple posts! Couldn’t be happier with this stock. Irregardless of the current events in Ukraine, this companies fundamentals are solid. Looking at their history (2007-2009) when oil was this high they were literally printing money with well drilling orders. Planning to add another 10,000 shares (total 28k) today using funds i liquidated from Air Canada last Friday.
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    Just bough 14,500 shares. Long and strong on this bad boy. Oil companies are making money with these high prices, and will start spending that money on drilling new wells!
  • G
    GreenMarty
    Another acquisition! Once energy sector starts recovering this will firing all cylinders.

    CALGARY, AB, Sept. 8, 2021 /CNW/ - Cathedral Energy Services Ltd. (TSX: CET) ("Cathedral" or the "Company") is pleased to announce the closing of Cathedral's acquisition of the operating assets of Valiant Energy Services ("Valiant"), an Alberta-based directional drilling company, for a purchase price of $1,500,000 (the "Transaction"). The purchase price was satisfied through the issuance of 3,464,204 common shares of Cathedral (the "Consideration Shares") to Valiant. The Consideration Shares will be subject to a 4-month statutory hold period.

    Post-closing, Cathedral's Canadian business is expected to operate over 30 jobs in Q3-2021 in the Western Canadian Sedimentary Basin ("WCSB") which equates to an estimated market share of current active jobs in Canada of more than 20%.
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    I sense something is brewing with this company. Large spike price recently, and lots of investments in equipment. Another takeover or buyout?
  • G
    GreenMarty
    Best quarter in 3 years, last quarter was similar as well, let's hope the trend of quadrupling revenue continues. Seeing where oil prices are right now, I think next quarter will put them in the green again. They own 18% of the mkt in Canada now as they were buying out smaller players during covid.
  • N
    Nicholas
    We are in a make it or break it for this stock right now based on results and oil
  • K
    Kenneth
    Book value was about 2.40 back about 7 years ago. They've done some dilutive share issuances recently to keep the doors open. This, combined with a series of losses in recent years, has brought Book value down to about 50 Cents. They have virtually no debt, which is a big positive considering the noises were hearing about interest rate hikes in the near future. The turnaround has begun with the company booking a one penny profit in the most recent quarter. Seem to be managing well from a financial perspective . Prospects are good for a continuation of this trend and steady increase in profitability over time. I see an easy double from where we are now and maybe a triple but we're not going back to $5 plus...
  • G
    GreenMarty
    Company on track for an excellent recovery, they literally had a 303% revenue increase compared to last year. Should be back to 2019 rev with current high oil prices in a few quarters. Not many people paying attention to Canadian oil mkt anymore.
  • G
    GreenMarty
    Up 22% today?
  • r
    richard
    has it been confirmed that March 9 is the date for earnings ?
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    Another acquisition brewing?
  • G
    GreenMarty
    So revenues are up and WTI oil prices are over $100/barrel but this stock is going nowhere. Really wish it gained more volume as my oil stocks are up 30%+ in the last 6 months.
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    450% revenue increase and great financial planning. I think this is a great earnings report and 2022 ERs should keep this momentum
  • S
    SueFobi
    this is an outstanding report should be at 60 cents
  • G
    GreenMarty
    why is this stock continually declining? Aren't they improving the business?