ChampionX Co. (NASDAQ:CHX) Given Average Rating of “Moderate Buy” by Analysts

ChampionX Co. (NASDAQ:CHX) has been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $40.33.

A number of equities analysts have recently commented on the company. Piper Sandler raised their price target on ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Barclays increased their price objective on ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Citigroup increased their price objective on ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th.

ChampionX Price Performance

Shares of NASDAQ CHX opened at $34.65 on Thursday. The stock has a fifty day simple moving average of $34.06 and a two-hundred day simple moving average of $31.15. ChampionX has a 1-year low of $24.98 and a 1-year high of $39.95. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 1.11 and a beta of 2.44. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. ChampionX had a return on equity of 20.14% and a net margin of 8.36%. The firm had revenue of $943.56 million during the quarter, compared to analyst estimates of $947.33 million. During the same period last year, the company earned $0.43 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. Analysts anticipate that ChampionX will post 1.95 earnings per share for the current year.

ChampionX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be issued a $0.095 dividend. The ex-dividend date is Thursday, April 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.10%. This is an increase from ChampionX’s previous quarterly dividend of $0.09. ChampionX’s payout ratio is currently 24.20%.

Insider Transactions at ChampionX

In other news, insider William Jr. O’dell sold 27,178 shares of ChampionX stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $36.00, for a total value of $978,408.00. Following the transaction, the insider now owns 57,748 shares in the company, valued at $2,078,928. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.38% of the company’s stock.

Institutional Trading of ChampionX

Several large investors have recently modified their holdings of CHX. Mount Yale Investment Advisors LLC grew its stake in shares of ChampionX by 197.7% in the third quarter. Mount Yale Investment Advisors LLC now owns 28,341 shares of the company’s stock worth $1,010,000 after purchasing an additional 18,822 shares during the last quarter. Ritholtz Wealth Management bought a new stake in shares of ChampionX in the third quarter worth about $783,000. SG Americas Securities LLC grew its stake in shares of ChampionX by 16.9% in the third quarter. SG Americas Securities LLC now owns 4,479 shares of the company’s stock worth $160,000 after purchasing an additional 649 shares during the last quarter. Park Place Capital Corp grew its stake in shares of ChampionX by 240.5% in the third quarter. Park Place Capital Corp now owns 4,519 shares of the company’s stock worth $161,000 after purchasing an additional 3,192 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in shares of ChampionX in the third quarter worth about $691,000. 98.99% of the stock is owned by 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.