ChampionX Co. (NASDAQ:CHX) Receives Consensus Rating of “Moderate Buy” from Brokerages

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

CHX has been the topic of several recent analyst reports. Piper Sandler lifted their price objective on ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Barclays raised their target price on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Citigroup upped their target price on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th.

Insider Buying and Selling at ChampionX

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC bought a new position in ChampionX during the fourth quarter worth $26,000. Allspring Global Investments Holdings LLC bought a new position in shares of ChampionX during the first quarter worth approximately $27,000. Rise Advisors LLC acquired a new stake in ChampionX during the 1st quarter worth approximately $35,000. Parkside Financial Bank & Trust boosted its stake in ChampionX by 19.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock valued at $77,000 after purchasing an additional 352 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of ChampionX by 37.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company’s stock worth $89,000 after buying an additional 831 shares in the last quarter. Institutional investors own 98.99% of the company’s stock.

ChampionX Stock Performance

Shares of CHX stock opened at $35.24 on Thursday. The stock has a market cap of $6.73 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 1.12 and a beta of 2.44. The stock has a 50-day moving average of $33.81 and a 200-day moving average of $31.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.82 and a quick ratio of 1.15. ChampionX has a one year low of $24.98 and a one year high of $39.95.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. As a group, sell-side analysts expect that ChampionX 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. 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. The ex-dividend date is Thursday, April 4th. This represents a $0.38 annualized dividend and a yield of 1.08%. ChampionX’s dividend payout ratio is presently 24.20%.

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.