ChampionX (CHX) to Release Quarterly Earnings on Wednesday

ChampionX (NASDAQ:CHX) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.40 per share for the quarter.

ChampionX (NASDAQ:CHX) last released 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 return on equity of 20.14% and a net margin of 8.36%. The business had revenue of $943.56 million for the quarter, compared to analyst estimates of $947.33 million. During the same quarter in the prior year, the firm posted $0.43 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, analysts expect ChampionX to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

ChampionX Trading Down 0.8 %

ChampionX stock opened at $36.64 on Wednesday. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36. ChampionX has a 12 month low of $24.98 and a 12 month high of $39.95. The stock’s 50 day simple moving average is $33.27 and its two-hundred day simple moving average is $31.07. The firm has a market cap of $7.00 billion, a PE ratio of 23.34, a P/E/G ratio of 1.18 and a beta of 2.44.

ChampionX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.04%. The ex-dividend date is Thursday, April 4th. This is a positive change from ChampionX’s previous quarterly dividend of $0.09. ChampionX’s dividend payout ratio is currently 24.20%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, insider William Jr. O’dell sold 27,178 shares of the business’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 transaction, the insider now directly owns 57,748 shares in the company, valued at $2,078,928. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ChampionX

Institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC boosted its holdings in ChampionX by 654.0% in the 1st quarter. NewEdge Advisors LLC now owns 1,870 shares of the company’s stock valued at $51,000 after purchasing an additional 1,622 shares during the last quarter. Covestor Ltd raised its stake in shares of ChampionX by 683.0% in the 1st quarter. Covestor Ltd now owns 2,216 shares of the company’s stock valued at $54,000 after acquiring an additional 1,933 shares during the period. West Tower Group LLC raised its stake in shares of ChampionX by 43.0% in the 4th quarter. West Tower Group LLC now owns 1,955 shares of the company’s stock valued at $57,000 after acquiring an additional 588 shares during the period. KBC Group NV purchased a new stake in shares of ChampionX in the 4th quarter valued at approximately $90,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of ChampionX in the 3rd quarter valued at approximately $96,000. 98.99% of the stock is currently 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.