Piper Sandler Analysts Cut Earnings Estimates for ChampionX Co. (NASDAQ:CHX)

ChampionX Co. (NASDAQ:CHXGet Rating) – Piper Sandler dropped their Q1 2022 earnings per share (EPS) estimates for ChampionX in a research report issued to clients and investors on Monday, April 11th. Piper Sandler analyst I. Macpherson now expects that the company will post earnings per share of $0.16 for the quarter, down from their previous estimate of $0.19. Piper Sandler currently has a “Overweight” rating and a $30.00 price target on the stock. Piper Sandler also issued estimates for ChampionX’s Q2 2022 earnings at $0.21 EPS, Q3 2022 earnings at $0.24 EPS, Q4 2022 earnings at $0.25 EPS, FY2022 earnings at $0.85 EPS and Q2 2023 earnings at $0.38 EPS.

CHX has been the subject of several other reports. Bank of America lowered shares of ChampionX from a “buy” rating to a “neutral” rating in a research report on Friday, March 11th. The Goldman Sachs Group upgraded shares of ChampionX from a “sell” rating to a “neutral” rating and set a $24.00 price target for the company in a research report on Tuesday, February 22nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $28.33.

NASDAQ CHX opened at $23.88 on Tuesday. The company’s 50-day simple moving average is $23.26. The company has a current ratio of 1.82, a quick ratio of 1.14 and a debt-to-equity ratio of 0.40. ChampionX has a 12-month low of $18.26 and a 12-month high of $30.48. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 44.22 and a beta of 3.00.

ChampionX (NASDAQ:CHXGet Rating) last announced its earnings results on Wednesday, February 9th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. ChampionX had a net margin of 3.68% and a return on equity of 7.34%. The company had revenue of $822.15 million during the quarter, compared to analyst estimates of $834.63 million. During the same period in the previous year, the business earned $0.07 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 29th. Shareholders of record on Friday, April 8th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Thursday, April 7th. ChampionX’s dividend payout ratio is 55.56%.

Several hedge funds and other institutional investors have recently made changes to their positions in CHX. BlackRock Inc. increased its position in shares of ChampionX by 0.7% during the fourth quarter. BlackRock Inc. now owns 24,374,728 shares of the company’s stock valued at $492,615,000 after acquiring an additional 179,749 shares in the last quarter. State Street Corp increased its position in shares of ChampionX by 1.4% during the fourth quarter. State Street Corp now owns 6,448,155 shares of the company’s stock valued at $130,317,000 after acquiring an additional 87,577 shares in the last quarter. Norges Bank bought a new stake in shares of ChampionX during the fourth quarter valued at approximately $117,244,000. American Century Companies Inc. increased its position in shares of ChampionX by 23.6% during the fourth quarter. American Century Companies Inc. now owns 5,065,851 shares of the company’s stock valued at $102,381,000 after acquiring an additional 968,800 shares in the last quarter. Finally, Gates Capital Management Inc. increased its position in shares of ChampionX by 4.5% during the fourth quarter. Gates Capital Management Inc. now owns 4,886,728 shares of the company’s stock valued at $98,761,000 after acquiring an additional 209,269 shares in the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.

About ChampionX (Get Rating)

ChampionX Corporation provides chemistry solutions, and engineered equipment and technologies to oil and gas companies worldwide. The company's Production Chemical Technologies segment offers onshore and offshore chemical solutions, such as corrosion inhibitors, scale inhibitors, emulsion breakers, and biocides to oil and natural gas production and midstream markets to manage and control corrosion, oil and water separation, flow assurance, sour gas treatment, and water-related issues.

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Earnings History and Estimates for ChampionX (NASDAQ:CHX)

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