ChampionX Co. (NASDAQ:CHX) Receives $40.33 Average Target Price from Analysts

Shares of ChampionX Co. (NASDAQ:CHX) have received an average rating of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $40.33.

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

Institutional Investors Weigh In On ChampionX

A number of large investors have recently modified their holdings of CHX. Teachers Retirement System of The State of Kentucky grew its stake in ChampionX by 91.0% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 68,526 shares of the company’s stock valued at $2,441,000 after purchasing an additional 32,657 shares in the last quarter. Seven Eight Capital LP acquired a new stake in ChampionX during the 3rd quarter valued at approximately $250,000. Westfield Capital Management Co. LP grew its stake in ChampionX by 27.3% during the 4th quarter. Westfield Capital Management Co. LP now owns 891,381 shares of the company’s stock valued at $26,037,000 after purchasing an additional 190,928 shares in the last quarter. Fisher Asset Management LLC grew its stake in ChampionX by 7.2% during the 4th quarter. Fisher Asset Management LLC now owns 365,798 shares of the company’s stock valued at $10,685,000 after purchasing an additional 24,662 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in ChampionX by 24.4% during the 4th quarter. Stifel Financial Corp now owns 226,181 shares of the company’s stock valued at $6,607,000 after purchasing an additional 44,300 shares in the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Price Performance

ChampionX stock opened at $33.37 on Tuesday. ChampionX has a 12 month low of $25.46 and a 12 month high of $39.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.83 and a quick ratio of 1.16. The business has a 50 day simple moving average of $32.82 and a 200-day simple moving average of $31.91. The stock has a market capitalization of $6.35 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.37 and a beta of 2.41.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. The firm had revenue of $922.14 million for the quarter, compared to analyst estimates of $922.13 million. Equities analysts predict that ChampionX will post 1.92 earnings per share for the current year.

ChampionX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.14%. ChampionX’s dividend payout ratio (DPR) 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.