ChampionX (CHX) to Release Quarterly Earnings on Wednesday

ChampionX (NASDAQ:CHX) will issue its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.40 per share for the quarter.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $943.56 million during the quarter, compared to analysts’ expectations of $947.33 million. ChampionX had a net margin of 8.36% and a return on equity of 20.14%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company posted $0.43 earnings per share. On average, analysts expect ChampionX to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

ChampionX Stock Performance

CHX stock opened at $36.64 on Wednesday. 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 stock has a market cap of $7.00 billion, a P/E ratio of 23.34, a P/E/G ratio of 1.18 and a beta of 2.44. The firm has a 50 day simple moving average of $33.27 and a 200 day simple moving average of $31.07. ChampionX has a 52 week low of $24.98 and a 52 week high of $39.95.

ChampionX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be issued 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 1.04%. The ex-dividend date is Thursday, April 4th. ChampionX’s dividend payout ratio (DPR) is currently 24.20%.

Analyst Ratings Changes

CHX has been the subject of several research reports. Citigroup raised their price target on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Barclays lifted their target price on shares of ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, Piper Sandler lifted their target price on shares of ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.33.

Insider Transactions at ChampionX

In other news, insider William Jr. O’dell sold 27,178 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $36.00, for a total value of $978,408.00. Following the completion of the sale, the insider now directly owns 57,748 shares in the company, valued at $2,078,928. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.38% of the stock is owned by corporate insiders.

Institutional Trading of ChampionX

A number of institutional investors and hedge funds have recently modified their holdings of CHX. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in ChampionX by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 74,057 shares of the company’s stock worth $1,813,000 after acquiring an additional 7,061 shares during the period. BlackRock Inc. increased its position in ChampionX by 0.5% during the first quarter. BlackRock Inc. now owns 24,501,257 shares of the company’s stock worth $599,791,000 after acquiring an additional 126,529 shares during the period. Great West Life Assurance Co. Can increased its holdings in ChampionX by 8.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 110,119 shares of the company’s stock valued at $2,768,000 after buying an additional 8,223 shares during the period. Yousif Capital Management LLC increased its holdings in ChampionX by 2.3% in the 1st quarter. Yousif Capital Management LLC now owns 109,208 shares of the company’s stock valued at $2,673,000 after buying an additional 2,439 shares during the period. Finally, Sei Investments Co. increased its holdings in ChampionX by 17.8% in the 1st quarter. Sei Investments Co. now owns 694,766 shares of the company’s stock valued at $17,014,000 after buying an additional 104,849 shares during the period. 98.99% of the stock is currently 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.