ChampionX Co. (NASDAQ:CHX) Plans $0.10 Quarterly Dividend

ChampionX Co. (NASDAQ:CHX) declared a quarterly dividend on Monday, November 18th,Wall Street Journal reports. Investors of record on Friday, January 3rd will be given a dividend of 0.095 per share on Friday, January 31st. This represents a $0.38 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, January 3rd.

ChampionX has a payout ratio of 19.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ChampionX to earn $1.90 per share next year, which means the company should continue to be able to cover its $0.38 annual dividend with an expected future payout ratio of 20.0%.

ChampionX Stock Performance

ChampionX stock opened at $30.87 on Tuesday. The firm has a market capitalization of $5.88 billion, a P/E ratio of 19.17 and a beta of 2.38. The stock has a fifty day moving average price of $30.25 and a 200 day moving average price of $31.63. ChampionX has a 52 week low of $25.46 and a 52 week high of $39.95. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33.

ChampionX (NASDAQ:CHX) last released its earnings results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $906.53 million during the quarter, compared to analyst estimates of $916.50 million. ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. Equities research analysts anticipate that ChampionX will post 1.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered their price target on ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, November 14th.

Insider Transactions at ChampionX

In other news, insider Deric D. Bryant sold 49,303 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total value of $1,482,048.18. Following the completion of the sale, the insider now owns 337,409 shares of the company’s stock, valued at $10,142,514.54. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.38% of the company’s stock.

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.