ChampionX (NASDAQ:CHX) PT Raised to $51.00

ChampionX (NASDAQ:CHX) had its price target boosted by research analysts at Barclays from $39.00 to $51.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 29.64% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Citigroup lifted their price target on shares of ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Piper Sandler cut shares of ChampionX from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $38.00 to $32.00 in a research report on Monday, January 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ChampionX has a consensus rating of “Moderate Buy” and an average target price of $39.00.

ChampionX Stock Performance

Shares of NASDAQ CHX opened at $39.34 on Thursday. The company has a market cap of $7.52 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 1.23 and a beta of 2.44. ChampionX has a 12 month low of $24.98 and a 12 month high of $39.55. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.82 and a quick ratio of 1.15. The company has a 50-day simple moving average of $31.83 and a 200-day simple moving average of $31.07.

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

Insider Transactions at ChampionX

In other news, insider William Jr. O’dell sold 27,178 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,078,928. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.22% of the company’s stock.

Institutional Investors Weigh In On ChampionX

A number of institutional investors and hedge funds have recently bought and sold shares of CHX. GAMMA Investing LLC purchased a new stake in ChampionX during the fourth quarter valued at about $26,000. Pinebridge Investments L.P. lifted its stake in ChampionX by 1,075.0% during the second quarter. Pinebridge Investments L.P. now owns 1,175 shares of the company’s stock valued at $36,000 after buying an additional 1,075 shares in the last quarter. NewEdge Advisors LLC lifted its stake in 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 buying an additional 1,622 shares in the last quarter. Covestor Ltd lifted its position in shares of ChampionX by 683.0% in the first quarter. Covestor Ltd now owns 2,216 shares of the company’s stock worth $54,000 after purchasing an additional 1,933 shares in the last quarter. Finally, West Tower Group LLC lifted its position in shares of ChampionX by 43.0% in the fourth quarter. West Tower Group LLC now owns 1,955 shares of the company’s stock worth $57,000 after purchasing an additional 588 shares in the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

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.