ChampionX (NASDAQ:CHX) Announces Quarterly Earnings Results

ChampionX (NASDAQ:CHX) issued its earnings results on Wednesday. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.11), Zacks reports. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. The firm had revenue of $893.30 million during the quarter, compared to the consensus estimate of $954.91 million. During the same period in the previous year, the company posted $0.48 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis.

ChampionX Stock Performance

Shares of NASDAQ CHX traded down $0.02 during mid-day trading on Thursday, reaching $34.06. 1,966,866 shares of the company were exchanged, compared to its average volume of 1,974,393. The company’s 50-day simple moving average is $32.69 and its 200-day simple moving average is $32.30. The company has a quick ratio of 1.16, a current ratio of 1.83 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $6.49 billion, a P/E ratio of 18.79, a P/E/G ratio of 1.44 and a beta of 2.41. ChampionX has a twelve month low of $25.46 and a twelve month high of $39.95.

ChampionX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Friday, July 5th. ChampionX’s dividend payout ratio is currently 20.65%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CHX shares. Citigroup increased their price objective on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Barclays increased their target price on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Piper Sandler reduced their target price on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

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.