Capital One Financial Comments on ChampionX Co.’s Q3 2024 Earnings (NASDAQ:CHX)

ChampionX Co. (NASDAQ:CHX) – Research analysts at Capital One Financial lowered their Q3 2024 EPS estimates for shares of ChampionX in a research report issued to clients and investors on Monday, October 30th. Capital One Financial analyst D. Becker now expects that the company will earn $0.53 per share for the quarter, down from their previous estimate of $0.62. Capital One Financial has a “Overweight” rating and a $40.00 price target on the stock. The consensus estimate for ChampionX’s current full-year earnings is $1.77 per share. Capital One Financial also issued estimates for ChampionX’s Q4 2024 earnings at $0.56 EPS, FY2024 earnings at $1.97 EPS, Q2 2025 earnings at $0.62 EPS and FY2025 earnings at $2.52 EPS.

ChampionX (NASDAQ:CHX) last issued its earnings results on Tuesday, October 24th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.08). The company had revenue of $939.78 million during the quarter, compared to the consensus estimate of $966.78 million. ChampionX had a return on equity of 20.17% and a net margin of 8.02%. ChampionX’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler lowered their price target on shares of ChampionX from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 27th. Stifel Nicolaus lowered their price target on shares of ChampionX from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. Finally, Barclays raised shares of ChampionX from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $33.00 to $42.00 in a research report on Tuesday, October 17th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.50.

ChampionX Price Performance

Shares of CHX opened at $30.28 on Wednesday. The company has a 50 day moving average price of $35.04 and a 200-day moving average price of $32.01. ChampionX has a fifty-two week low of $23.66 and a fifty-two week high of $38.37. The stock has a market capitalization of $5.90 billion, a PE ratio of 20.05, a PEG ratio of 0.63 and a beta of 2.55. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.87.

ChampionX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 6th were issued a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 1.12%. The ex-dividend date was Thursday, October 5th. ChampionX’s payout ratio is 22.52%.

Insider Buying and Selling at ChampionX

In other ChampionX news, insider Deric D. Bryant sold 12,232 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $35.24, for a total transaction of $431,055.68. Following the transaction, the insider now directly owns 305,159 shares of the company’s stock, valued at $10,753,803.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Deric D. Bryant sold 18,772 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $37.07, for a total value of $695,878.04. Following the transaction, the insider now directly owns 317,391 shares of the company’s stock, valued at $11,765,684.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Deric D. Bryant sold 12,232 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $35.24, for a total transaction of $431,055.68. Following the completion of the transaction, the insider now directly owns 305,159 shares in the company, valued at $10,753,803.16. The disclosure for this sale can be found here. Insiders own 1.22% of the company’s stock.

Hedge Funds Weigh In On ChampionX

A number of institutional investors have recently bought and sold shares of the company. Pinebridge Investments L.P. increased its position in shares of ChampionX by 1,075.0% during the second quarter. Pinebridge Investments L.P. now owns 1,175 shares of the company’s stock valued at $36,000 after acquiring an additional 1,075 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of ChampionX by 654.0% during the first quarter. NewEdge Advisors LLC now owns 1,870 shares of the company’s stock valued at $51,000 after acquiring an additional 1,622 shares during the last quarter. Benjamin Edwards Inc. increased its position in shares of ChampionX by 151.7% during the first quarter. Benjamin Edwards Inc. now owns 2,175 shares of the company’s stock valued at $59,000 after acquiring an additional 1,311 shares during the last quarter. Dupont Capital Management Corp acquired a new position in shares of ChampionX in the first quarter valued at approximately $59,000. Finally, Covestor Ltd grew 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 purchasing an additional 1,933 shares in the last quarter. 98.99% of the stock is owned by hedge funds and other institutional investors.

About ChampionX

ChampionX Corporation provides chemistry solutions, 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.