ChampionX (NASDAQ:CHX) Trading Down 2.2%

ChampionX Co. (NASDAQ:CHX)’s stock price fell 2.2% during mid-day trading on Friday . The company traded as low as $35.15 and last traded at $35.47. 231,288 shares traded hands during trading, a decline of 88% from the average session volume of 1,996,496 shares. The stock had previously closed at $36.28.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CHX. Barclays raised their price objective on ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Piper Sandler raised their price objective on ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Citigroup increased their target price on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.33.

ChampionX Trading Down 2.5 %

The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.36. The stock’s fifty day moving average price is $33.56 and its two-hundred day moving average price is $31.14. The company has a market capitalization of $6.76 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 1.14 and a beta of 2.44.

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

ChampionX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be paid a dividend of $0.095 per share. This is an increase from ChampionX’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.07%. ChampionX’s dividend payout ratio (DPR) is currently 24.20%.

Insider Buying and Selling at ChampionX

In other ChampionX news, insider William Jr. O’dell sold 27,178 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $36.00, for a total transaction of $978,408.00. Following the completion of the transaction, the insider now owns 57,748 shares of the company’s stock, valued at $2,078,928. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.38% of the company’s stock.

Hedge Funds Weigh In On ChampionX

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC bought a new stake in shares of ChampionX during the fourth quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC bought a new stake in shares of ChampionX during the first quarter valued at approximately $27,000. Rise Advisors LLC bought a new stake in shares of ChampionX during the first quarter valued at approximately $35,000. NewEdge Advisors LLC increased its position in shares of ChampionX by 654.0% during the first quarter. NewEdge Advisors LLC now owns 1,870 shares of the company’s stock valued at $51,000 after acquiring an additional 1,622 shares in the last quarter. Finally, Covestor Ltd grew its position in ChampionX by 683.0% in the 1st quarter. Covestor Ltd now owns 2,216 shares of the company’s stock worth $54,000 after purchasing an additional 1,933 shares during the period. Institutional investors 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.