ChampionX Co. (NASDAQ:CHX) Receives $40.33 Consensus PT from Brokerages

Shares of ChampionX Co. (NASDAQ:CHX) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $40.33.

A number of equities research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Citigroup upped 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. Finally, Piper Sandler boosted their target price on ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, April 8th.

ChampionX Trading Down 2.1 %

ChampionX stock opened at $35.53 on Thursday. The stock has a market cap of $6.79 billion, a P/E ratio of 22.63, a PEG ratio of 1.15 and a beta of 2.44. ChampionX has a fifty-two week low of $24.98 and a fifty-two week high of $39.95. The firm’s fifty day moving average price is $33.69 and its 200-day moving average price is $31.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.15 and a current ratio of 1.82.

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

ChampionX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be given a $0.095 dividend. The ex-dividend date is Thursday, April 4th. This is a boost from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 annualized dividend and a yield of 1.07%. ChampionX’s dividend payout ratio is 24.20%.

Insider Transactions at ChampionX

In other ChampionX 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 transaction, the insider now owns 57,748 shares in the company, valued at approximately $2,078,928. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.38% of the company’s stock.

Institutional Investors Weigh In On ChampionX

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in shares of ChampionX during the 4th quarter valued at about $26,000. Allspring Global Investments Holdings LLC purchased a new position in ChampionX during the first quarter valued at approximately $27,000. Rise Advisors LLC purchased a new position in ChampionX during the first quarter valued at approximately $35,000. NewEdge Advisors LLC boosted its position in shares of ChampionX by 654.0% in the first quarter. NewEdge Advisors LLC now owns 1,870 shares of the company’s stock worth $51,000 after purchasing an additional 1,622 shares during the period. Finally, Covestor Ltd increased its stake 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. 98.99% of the stock is currently owned by institutional investors.

About ChampionX

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.