Equities Analysts Issue Forecasts for ChampionX Co.’s Q3 2021 Earnings (NASDAQ:CHX)

ChampionX Co. (NASDAQ:CHX) – Stock analysts at Piper Sandler reduced their Q3 2021 earnings estimates for ChampionX in a research report issued on Monday, October 11th. Piper Sandler analyst I. Macpherson now forecasts that the company will post earnings per share of $0.16 for the quarter, down from their previous forecast of $0.17. Piper Sandler also issued estimates for ChampionX’s Q1 2022 earnings at $0.21 EPS.

A number of other brokerages have also weighed in on CHX. Evercore ISI restated a “buy” rating and issued a $25.00 target price on shares of ChampionX in a research note on Thursday, July 8th. Zacks Investment Research upgraded ChampionX from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Monday, October 4th. Stifel Nicolaus boosted their target price on ChampionX from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, July 2nd. COKER & PALMER upgraded ChampionX from a “sector underperform” rating to a “sector perform” rating in a research report on Monday, August 30th. Finally, The Goldman Sachs Group assumed coverage on ChampionX in a report on Friday, September 17th. They set a “sell” rating and a $22.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $23.41.

CHX opened at $25.22 on Thursday. ChampionX has a 1-year low of $6.87 and a 1-year high of $30.48. The company has a current ratio of 1.97, a quick ratio of 1.29 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 420.40 and a beta of 3.21. The business has a 50 day moving average of $22.96 and a 200-day moving average of $23.61.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings results on Wednesday, July 28th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. ChampionX had a return on equity of 3.63% and a net margin of 0.45%. The company had revenue of $749.17 million for the quarter, compared to the consensus estimate of $724.65 million.

Several hedge funds have recently made changes to their positions in CHX. Public Employees Retirement System of Ohio raised its position in ChampionX by 5.5% in the first quarter. Public Employees Retirement System of Ohio now owns 7,848 shares of the company’s stock valued at $171,000 after purchasing an additional 409 shares during the last quarter. Eaton Vance Management increased its stake in shares of ChampionX by 0.5% in the first quarter. Eaton Vance Management now owns 128,770 shares of the company’s stock valued at $2,798,000 after buying an additional 698 shares during the period. US Bancorp DE grew its stake in ChampionX by 0.7% during the second quarter. US Bancorp DE now owns 107,570 shares of the company’s stock worth $2,759,000 after purchasing an additional 703 shares during the period. Cookson Peirce & Co. Inc. grew its stake in ChampionX by 1.2% during the second quarter. Cookson Peirce & Co. Inc. now owns 61,888 shares of the company’s stock worth $1,587,000 after purchasing an additional 741 shares during the period. Finally, Wright Investors Service Inc. grew its stake in ChampionX by 1.2% during the second quarter. Wright Investors Service Inc. now owns 63,179 shares of the company’s stock worth $1,621,000 after purchasing an additional 761 shares during the period. Institutional investors and hedge funds own 95.63% of the company’s stock.

ChampionX Company Profile

ChampionX Corp. engages in the provision of chemistry programs and services for global upstream oil and natural gas industry. It operates under the following segments: Oilfield Performance, Specialty Performance, and Corporate and other Segment. It provides applications and technology for drilling, production, and midstream.

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Earnings History and Estimates for ChampionX (NASDAQ:CHX)

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