ChampionX (NASDAQ:CHX) Trading 8.2% Higher – What’s Next?

ChampionX Co. (NASDAQ:CHX)’s share price was up 8.2% on Friday . The company traded as high as $31.10 and last traded at $31.54. Approximately 862,537 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 2,355,163 shares. The stock had previously closed at $29.15.

Wall Street Analyst Weigh In

Separately, Citigroup lowered their price objective on ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th.

ChampionX Price Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.20. The firm has a 50-day simple moving average of $28.90 and a 200 day simple moving average of $30.42. The firm has a market cap of $6.02 billion, a PE ratio of 19.64 and a beta of 2.36.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company had revenue of $906.53 million for the quarter, compared to analysts’ expectations of $916.50 million. ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 EPS. As a group, equities analysts expect that ChampionX Co. will post 1.66 EPS for the current year.

ChampionX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Friday, January 3rd. ChampionX’s payout ratio is 23.60%.

Insider Activity

In other news, insider Deric D. Bryant sold 49,303 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total value of $1,482,048.18. Following the completion of the transaction, the insider now directly owns 337,409 shares of the company’s stock, valued at approximately $10,142,514.54. The trade was a 12.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.38% of the company’s stock.

Institutional Investors Weigh In On ChampionX

A number of institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its holdings in ChampionX by 442.4% in the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock valued at $44,000 after purchasing an additional 1,084 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in ChampionX in the second quarter valued at approximately $68,000. UMB Bank n.a. boosted its position in ChampionX by 63.7% in the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after buying an additional 882 shares during the period. KBC Group NV increased its position in shares of ChampionX by 18.3% in the 3rd quarter. KBC Group NV now owns 5,827 shares of the company’s stock valued at $176,000 after purchasing an additional 903 shares during the last quarter. Finally, Choreo LLC purchased a new stake in shares of ChampionX during the 2nd quarter worth approximately $225,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Company Profile

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.