ChampionX (NASDAQ:CHX) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

ChampionX (NASDAQ:CHX) released its quarterly earnings data on Wednesday. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01), Briefing.com reports. The firm had revenue of $906.53 million for the quarter, compared to the consensus estimate of $916.50 million. ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 EPS.

ChampionX Stock Down 0.6 %

Shares of NASDAQ:CHX traded down $0.19 during mid-day trading on Thursday, hitting $29.46. 49,353 shares of the company traded hands, compared to its average volume of 1,864,235. The stock has a market cap of $5.61 billion, a P/E ratio of 16.11, a P/E/G ratio of 1.27 and a beta of 2.37. The company has a current ratio of 1.99, a quick ratio of 1.25 and a debt-to-equity ratio of 0.34. ChampionX has a 12-month low of $25.46 and a 12-month high of $39.95. The stock has a 50-day moving average price of $30.63 and a two-hundred day moving average price of $32.43.

ChampionX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.29%. ChampionX’s payout ratio is 20.65%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler decreased their price objective on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, ChampionX has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

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.