seekingalpha.com
Cathedral Energy Services: Still Cheap Despite Impressive Acquisitive Growth
Cathedral Energy Services continues to execute its acquisitive growth strategy. The most recent acquisition was Rime, a Texas-based manufacturer in the downhole measurement-while-drilling sector. Cathedral has reported strong year-over-year growth in activity days and average day rates, expanding its market share both in Canada and the U.S. Cathedral is undervalued relative to industry peers despite its impressive growth trajectory and recently announced share buyback.