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

ChampionX Co. (NASDAQ:CHXGet Free Report) has received a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $40.33.

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

Get Our Latest Research Report on ChampionX

Insiders Place Their Bets

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

Hedge Funds Weigh In On ChampionX

A number of large investors have recently added to or reduced their stakes in CHX. Vanguard Group Inc. grew its holdings in shares of ChampionX by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,033,091 shares of the company’s stock worth $585,167,000 after purchasing an additional 62,967 shares during the last quarter. FMR LLC boosted its holdings in shares of ChampionX by 20.2% during the third quarter. FMR LLC now owns 7,109,432 shares of the company’s stock worth $253,238,000 after purchasing an additional 1,193,122 shares during the period. Brown Advisory Inc. grew its stake in shares of ChampionX by 1.8% in the fourth quarter. Brown Advisory Inc. now owns 6,364,676 shares of the company’s stock worth $185,912,000 after purchasing an additional 110,956 shares during the last quarter. Congress Asset Management Co. MA increased its holdings in ChampionX by 2.1% during the 1st quarter. Congress Asset Management Co. MA now owns 3,991,117 shares of the company’s stock valued at $143,241,000 after purchasing an additional 80,626 shares during the period. Finally, Bessemer Group Inc. raised its position in ChampionX by 2.6% during the 1st quarter. Bessemer Group Inc. now owns 3,842,425 shares of the company’s stock valued at $137,905,000 after purchasing an additional 99,100 shares during the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Trading Down 2.2 %

NASDAQ:CHX opened at $30.96 on Friday. ChampionX has a 12 month low of $25.46 and a 12 month high of $39.95. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average is $34.15 and its 200 day moving average is $31.59. The stock has a market capitalization of $5.89 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 1.27 and a beta of 2.39.

ChampionX (NASDAQ:CHXGet Free Report) last posted its quarterly earnings results 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. The company had revenue of $922.14 million during the quarter, compared to the consensus estimate of $922.13 million. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. Sell-side analysts expect that ChampionX will post 1.99 earnings per share for the current year.

ChampionX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.38 dividend on an annualized basis and a yield of 1.23%. ChampionX’s payout ratio is 20.65%.

About ChampionX

(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.

Further Reading

Analyst Recommendations for ChampionX (NASDAQ:CHX)

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