ChampionX (NASDAQ:CHX) Releases Earnings Results, Misses Expectations By $0.11 EPS

ChampionX (NASDAQ:CHX) issued its quarterly earnings data on Wednesday. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.11), Zacks reports. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. The business had revenue of $893.30 million for the quarter, compared to the consensus estimate of $954.91 million. During the same period in the previous year, the firm earned $0.48 EPS. The company’s revenue was down 3.6% on a year-over-year basis.

ChampionX Price Performance

Shares of CHX traded up $0.06 during midday trading on Thursday, hitting $34.14. 1,924,660 shares of the company traded hands, compared to its average volume of 1,973,839. The firm has a 50 day moving average of $32.69 and a 200-day moving average of $32.30. ChampionX has a 52 week low of $25.46 and a 52 week high of $39.95. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 1.44 and a beta of 2.41. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.83.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.11%. The ex-dividend date is Friday, July 5th. ChampionX’s dividend payout ratio is currently 20.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CHX shares. Barclays boosted their price objective on shares of ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Citigroup upped their target price on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Finally, Piper Sandler dropped their target price on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, ChampionX presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

About ChampionX

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.