Capital One Financial Cuts Earnings Estimates for ChampionX

ChampionX Co. (NASDAQ:CHX) – Stock analysts at Capital One Financial decreased their Q3 2024 earnings estimates for ChampionX in a research report issued to clients and investors on Monday, October 21st. Capital One Financial analyst D. Becker now anticipates that the company will post earnings per share of $0.41 for the quarter, down from their previous estimate of $0.53. The consensus estimate for ChampionX’s current full-year earnings is $1.99 per share.

Separately, Piper Sandler cut their price objective on ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, ChampionX currently has an average rating of “Moderate Buy” and an average price target of $39.00.

ChampionX Trading Up 0.3 %

NASDAQ CHX opened at $29.65 on Wednesday. The firm has a market capitalization of $5.65 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 1.27 and a beta of 2.37. The business’s 50-day moving average price is $30.66 and its two-hundred day moving average price is $32.45. The company has a current ratio of 1.99, a quick ratio of 1.25 and a debt-to-equity ratio of 0.34. ChampionX has a 12 month low of $25.46 and a 12 month high of $39.95.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.11). The company had revenue of $893.30 million during the quarter, compared to analyst estimates of $954.91 million. ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 earnings per share.

Institutional Trading of ChampionX

Several hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in ChampionX during the 1st quarter worth approximately $27,000. Blue Trust Inc. raised its position in shares of ChampionX by 442.4% during the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock worth $44,000 after purchasing an additional 1,084 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of ChampionX in the 2nd quarter worth $68,000. UMB Bank n.a. grew its position in ChampionX by 63.7% in the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after purchasing an additional 882 shares during the period. Finally, Central Pacific Bank Trust Division bought a new stake in ChampionX during the 1st quarter valued at $136,000. Institutional investors own 98.99% of the company’s stock.

ChampionX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.28%. ChampionX’s payout ratio is currently 20.65%.

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.