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

ChampionX Co. (NASDAQ:CHX) has earned a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $40.33.

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

Insiders Place Their Bets

In related news, insider William Jr. O’dell sold 27,178 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHX. Raymond James & Associates increased its holdings in shares of ChampionX by 28.6% in the first quarter. Raymond James & Associates now owns 332,576 shares of the company’s stock valued at $11,936,000 after purchasing an additional 74,012 shares during the last quarter. Fruth Investment Management acquired a new stake in shares of ChampionX in the 1st quarter worth $200,000. Norden Group LLC raised its holdings in shares of ChampionX by 2,033.3% during the 1st quarter. Norden Group LLC now owns 251,775 shares of the company’s stock worth $9,036,000 after acquiring an additional 239,973 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of ChampionX in the first quarter valued at about $27,000. Finally, Congress Wealth Management LLC DE increased its position in ChampionX by 1.6% during the first quarter. Congress Wealth Management LLC DE now owns 366,199 shares of the company’s stock worth $13,143,000 after purchasing an additional 5,918 shares during the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Stock Down 0.8 %

Shares of NASDAQ CHX opened at $35.24 on Thursday. The stock has a market capitalization of $6.73 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 1.12 and a beta of 2.44. 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 has a 12-month low of $24.98 and a 12-month high of $39.95. The stock’s fifty day simple moving average is $33.81 and its two-hundred day simple moving average is $31.12.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. ChampionX had a net margin of 8.36% and a return on equity of 20.14%. The firm had revenue of $943.56 million for the quarter, compared to the consensus estimate of $947.33 million. During the same quarter in the previous year, the firm earned $0.43 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, analysts expect that ChampionX will post 1.95 EPS for the current fiscal year.

ChampionX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.08%. The ex-dividend date is Thursday, April 4th. This is a positive change from ChampionX’s previous quarterly dividend of $0.09. ChampionX’s dividend payout ratio (DPR) 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.