ChampionX Co. (NASDAQ:CHX – Get Rating) announced a quarterly dividend on Thursday, May 12th, Zacks reports. Stockholders of record on Friday, July 1st will be given a dividend of 0.075 per share on Friday, July 29th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Thursday, June 30th.
ChampionX has a dividend payout ratio of 18.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ChampionX to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 18.4%.
NASDAQ CHX opened at $21.77 on Friday. The company has a 50 day simple moving average of $23.58 and a 200-day simple moving average of $22.97. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.85 and a quick ratio of 1.09. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 31.55 and a beta of 2.88. ChampionX has a 52-week low of $19.00 and a 52-week high of $30.48.
Several equities research analysts have recently issued reports on the stock. Barclays raised their price objective on shares of ChampionX from $33.00 to $38.00 in a research note on Monday, May 2nd. Piper Sandler upgraded shares of ChampionX from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $28.00 to $30.00 in a research note on Monday, April 11th. Bank of America downgraded shares of ChampionX from a “buy” rating to a “neutral” rating in a research note on Friday, March 11th. Finally, The Goldman Sachs Group upgraded shares of ChampionX from a “sell” rating to a “neutral” rating and set a $24.00 price objective on the stock in a research note on Tuesday, February 22nd. Four investment 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, ChampionX has an average rating of “Buy” and a consensus target price of $28.83.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Covestor Ltd raised its holdings in shares of ChampionX by 683.0% in the first quarter. Covestor Ltd now owns 2,216 shares of the company’s stock valued at $54,000 after buying an additional 1,933 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in ChampionX by 175.6% during the 4th quarter. Advisors Asset Management Inc. now owns 2,954 shares of the company’s stock worth $60,000 after purchasing an additional 1,882 shares during the last quarter. MML Investors Services LLC raised its holdings in ChampionX by 15.3% during the 4th quarter. MML Investors Services LLC now owns 10,565 shares of the company’s stock worth $214,000 after purchasing an additional 1,403 shares during the last quarter. Two Sigma Investments LP bought a new stake in ChampionX during the 3rd quarter worth about $259,000. Finally, Jaffetilchin Investment Partners LLC acquired a new position in shares of ChampionX during the 1st quarter worth about $325,000. Hedge funds and other institutional investors own 96.89% of the company’s stock.
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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