ChampionX Co. (NASDAQ:CHX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of ChampionX Co. (NASDAQ:CHX) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $40.33.

CHX has been the subject of several recent analyst reports. Citigroup lifted their price objective on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Barclays lifted their price objective on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Piper Sandler lifted their price objective on shares of ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th.

ChampionX Trading Up 0.2 %

CHX stock opened at $32.39 on Tuesday. The firm has a fifty day moving average price of $32.72 and a 200 day moving average price of $31.95. ChampionX has a fifty-two week low of $25.46 and a fifty-two week high of $39.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.83. The firm has a market cap of $6.17 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.34 and a beta of 2.41.

ChampionX (NASDAQ:CHX) last posted its earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. The firm had revenue of $922.14 million during the quarter, compared to analyst estimates of $922.13 million. Sell-side analysts anticipate that ChampionX will post 1.92 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, July 5th. ChampionX’s dividend payout ratio is currently 20.65%.

Institutional Trading of ChampionX

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in shares of ChampionX in the fourth quarter valued at about $26,000. Allspring Global Investments Holdings LLC bought a new stake in shares of ChampionX in the first quarter valued at about $27,000. Rise Advisors LLC bought a new stake in shares of ChampionX in the first quarter valued at about $35,000. Quadrant Capital Group LLC raised its holdings in shares of ChampionX by 37.6% in the fourth quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company’s stock valued at $89,000 after acquiring an additional 831 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of ChampionX in the fourth quarter valued at about $91,000. 98.99% of the stock is owned by hedge funds and other institutional investors.

About ChampionX

ChampionX Corporation provides chemistry solutions, artificial lift systems, and engineered equipment and technologies to oil and gas companies worldwide. The company operates through four segments: Production Chemical Technologies, Production & Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies.