ChampionX Co. (NASDAQ:CHX) Given Consensus Recommendation of “Moderate Buy” by Analysts

ChampionX Co. (NASDAQ:CHX) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $40.33.

CHX has been the topic of several analyst reports. Citigroup raised their target price on shares of ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Piper Sandler raised their price objective on shares of ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Barclays lifted their price objective on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th.

Insider Transactions at ChampionX

In related news, insider William Jr. O’dell sold 27,178 shares of the 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 transaction, the insider now directly owns 57,748 shares of the company’s stock, valued at approximately $2,078,928. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.38% of the company’s stock.

Institutional Trading of ChampionX

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of ChampionX in the fourth quarter valued at about $26,000. Rise Advisors LLC purchased a new stake in ChampionX during the 1st quarter valued at approximately $35,000. NewEdge Advisors LLC lifted its position in ChampionX by 654.0% during the 1st quarter. NewEdge Advisors LLC now owns 1,870 shares of the company’s stock worth $51,000 after acquiring an additional 1,622 shares during the period. West Tower Group LLC grew its stake in shares of ChampionX by 43.0% in the 4th quarter. West Tower Group LLC now owns 1,955 shares of the company’s stock valued at $57,000 after purchasing an additional 588 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of ChampionX by 19.4% in the third quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock valued at $77,000 after purchasing an additional 352 shares during the period. 98.99% of the stock is owned by institutional investors and hedge funds.

ChampionX Stock Down 1.6 %

ChampionX stock opened at $36.07 on Thursday. The firm has a market capitalization of $6.89 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.17 and a beta of 2.44. The stock’s fifty day simple moving average is $33.41 and its 200-day simple moving average is $31.10. ChampionX has a twelve month low of $24.98 and a twelve month high of $39.95. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $943.56 million for 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%. ChampionX’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 EPS. As a group, equities analysts expect that ChampionX will post 1.95 earnings per share for the current fiscal year.

ChampionX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be paid a $0.095 dividend. This is a positive change from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, April 4th. ChampionX’s dividend payout ratio is currently 24.20%.

ChampionX Company Profile

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.