ChampionX Co. (NASDAQ:CHX) Receives Average Recommendation of “Moderate Buy” from Analysts

ChampionX Co. (NASDAQ:CHX) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers 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 company. Citigroup boosted their target price on ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Barclays upped their price objective on ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, Piper Sandler upped 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.

ChampionX Price Performance

ChampionX stock opened at $34.65 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.15 and a current ratio of 1.82. The firm has a market cap of $6.62 billion, a P/E ratio of 22.07, a P/E/G ratio of 1.11 and a beta of 2.44. The business’s fifty day moving average is $34.06 and its two-hundred day moving average is $31.15. ChampionX has a 52 week low of $24.98 and a 52 week high of $39.95.

ChampionX (NASDAQ:CHX) last released its 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 during the quarter, compared to the consensus estimate of $947.33 million. ChampionX had a return on equity of 20.14% and a net margin of 8.36%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 earnings per share. Equities research analysts forecast that ChampionX will post 1.95 earnings per share for the current fiscal year.

ChampionX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be given a dividend of $0.095 per share. This is a boost from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Thursday, April 4th. ChampionX’s dividend payout ratio is currently 24.20%.

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 stock was 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 directly owns 57,748 shares of the company’s stock, valued at $2,078,928. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CHX. GAMMA Investing LLC acquired a new position in ChampionX during the fourth quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of ChampionX in the first quarter valued at approximately $27,000. Rise Advisors LLC bought a new position in shares of ChampionX during the first quarter worth approximately $35,000. Parkside Financial Bank & Trust increased its stake in shares of ChampionX by 19.4% during the third quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock worth $77,000 after purchasing an additional 352 shares during the period. Finally, Quadrant Capital Group LLC increased its stake 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 purchasing an additional 831 shares during the period. 98.99% of the stock is owned by institutional investors and hedge funds.

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.