ChampionX (NASDAQ:CHX) PT Raised to $40.00 at Citigroup

ChampionX (NASDAQ:CHX) had its price target upped by analysts at Citigroup from $39.00 to $40.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 11.45% from the stock’s previous close.

Separately, Piper Sandler cut ChampionX from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $38.00 to $32.00 in a report on Monday, January 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

ChampionX Stock Up 1.2 %

Shares of NASDAQ CHX opened at $35.89 on Wednesday. The stock has a 50-day moving average price of $30.56 and a two-hundred day moving average price of $31.05. ChampionX has a 12 month low of $24.98 and a 12 month high of $38.37. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36. The company 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.

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

Insider Activity

In other news, insider William Jr. O’dell sold 27,178 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 57,748 shares of the company’s stock, valued at approximately $2,078,928. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.22% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in ChampionX by 0.5% in the 1st quarter. BlackRock Inc. now owns 24,501,257 shares of the company’s stock worth $599,791,000 after purchasing an additional 126,529 shares during the period. Vanguard Group Inc. boosted its position in shares of ChampionX by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 20,033,091 shares of the company’s stock valued at $585,167,000 after acquiring an additional 62,967 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of ChampionX by 13.7% during the 2nd quarter. Alliancebernstein L.P. now owns 8,184,487 shares of the company’s stock valued at $254,046,000 after acquiring an additional 988,872 shares during the last quarter. State Street Corp boosted its position in shares of ChampionX by 6.1% during the 1st quarter. State Street Corp now owns 7,422,065 shares of the company’s stock valued at $201,357,000 after acquiring an additional 426,656 shares during the last quarter. Finally, FMR LLC boosted its position in shares of ChampionX by 20.2% during the 3rd quarter. FMR LLC now owns 7,109,432 shares of the company’s stock valued at $253,238,000 after acquiring an additional 1,193,122 shares during the last quarter. 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.