Brokerages Set ChampionX Co. (NASDAQ:CHX) Target Price at $37.50

ChampionX Co. (NASDAQ:CHX) has been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $37.50.

Several brokerages have recently issued reports on CHX. 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. Piper Sandler cut shares of ChampionX from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $38.00 to $32.00 in a report on Monday, January 8th.

Insider Buying and Selling

In other ChampionX news, insider William Jr. O’dell sold 27,178 shares of ChampionX stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $36.00, for a total value of $978,408.00. Following the completion of the sale, the insider now directly owns 57,748 shares in the company, valued at $2,078,928. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ChampionX

A number of institutional investors have recently modified their holdings of CHX. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of ChampionX by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 74,057 shares of the company’s stock valued at $1,813,000 after purchasing an additional 7,061 shares during the period. BlackRock Inc. increased its position in ChampionX by 0.5% during the first quarter. BlackRock Inc. now owns 24,501,257 shares of the company’s stock worth $599,791,000 after acquiring an additional 126,529 shares during the period. Great West Life Assurance Co. Can increased its position in ChampionX by 8.1% during the first quarter. Great West Life Assurance Co. Can now owns 110,119 shares of the company’s stock worth $2,768,000 after acquiring an additional 8,223 shares during the period. Yousif Capital Management LLC increased its position in ChampionX by 2.3% during the first quarter. Yousif Capital Management LLC now owns 109,208 shares of the company’s stock worth $2,673,000 after acquiring an additional 2,439 shares during the period. Finally, Sei Investments Co. increased its position in ChampionX by 17.8% during the first quarter. Sei Investments Co. now owns 694,766 shares of the company’s stock worth $17,014,000 after acquiring an additional 104,849 shares during the period. Institutional investors own 98.99% of the company’s stock.

ChampionX Stock Up 1.2 %

ChampionX stock opened at $35.89 on Friday. The company’s 50-day moving average price is $30.56 and its two-hundred day moving average price is $31.05. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.09 and a beta of 2.43. 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 has a 52 week low of $24.98 and a 52 week high of $38.37.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $943.56 million for the quarter, compared to analysts’ expectations of $947.33 million. ChampionX had a net margin of 8.36% and a return on equity of 20.14%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. On average, analysts expect that ChampionX will post 1.95 EPS for the current fiscal year.

ChampionX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be issued a dividend of $0.095 per share. This is a boost from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, April 4th. ChampionX’s dividend payout ratio (DPR) is currently 21.66%.

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.