ChampionX Co. (NASDAQ:CHX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of ChampionX Co. (NASDAQ:CHXGet Free Report) have been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $40.33.

A number of research analysts recently weighed in on CHX shares. Citigroup lifted their price objective on shares of ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Barclays upped their price objective on ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Piper Sandler lifted their target price on ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, April 8th.

Get Our Latest Report on CHX

ChampionX Stock Performance

Shares of ChampionX stock opened at $32.76 on Tuesday. ChampionX has a one year low of $25.46 and a one year high of $39.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.83. The business’s 50 day moving average price is $32.92 and its 200 day moving average price is $31.87. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 1.38 and a beta of 2.41.

ChampionX (NASDAQ:CHXGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.10. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. The company had revenue of $922.14 million during the quarter, compared to analyst estimates of $922.13 million. On average, research analysts predict that ChampionX will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, July 5th. ChampionX’s dividend payout ratio (DPR) is presently 20.65%.

Hedge Funds Weigh In On ChampionX

Several large investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System increased its position in ChampionX by 0.5% in the 1st quarter. Louisiana State Employees Retirement System now owns 55,000 shares of the company’s stock valued at $1,974,000 after acquiring an additional 300 shares during the period. Fifth Third Bancorp increased its holdings in shares of ChampionX by 2.1% in the first quarter. Fifth Third Bancorp now owns 27,878 shares of the company’s stock valued at $1,001,000 after purchasing an additional 584 shares during the period. Legend Financial Advisors Inc. raised its stake in shares of ChampionX by 3.5% during the first quarter. Legend Financial Advisors Inc. now owns 21,132 shares of the company’s stock worth $758,000 after purchasing an additional 720 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of ChampionX during the first quarter worth $27,000. Finally, Mendota Financial Group LLC increased its stake in ChampionX by 19.3% in the 1st quarter. Mendota Financial Group LLC now owns 4,648 shares of the company’s stock valued at $167,000 after buying an additional 751 shares during the period. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Company Profile

(Get Free Report

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.

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Analyst Recommendations for ChampionX (NASDAQ:CHX)

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