ChampionX (NASDAQ:CHX) Price Target Cut to $33.00 by Analysts at Piper Sandler

ChampionX (NASDAQ:CHX) had its price target decreased by equities researchers at Piper Sandler from $40.00 to $33.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential upside of 0.98% from the company’s previous close.

Several other research analysts have also recently commented on the stock. Barclays lifted their target price on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Citigroup raised their price objective on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $39.00.

ChampionX Trading Up 0.3 %

Shares of NASDAQ:CHX opened at $32.68 on Monday. ChampionX has a 1-year low of $25.46 and a 1-year high of $39.95. The company has a 50 day moving average price of $32.62 and a 200 day moving average price of $32.00. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.36 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 (NASDAQ:CHX) last issued its earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share (EPS) 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 business had revenue of $922.14 million for the quarter, compared to analysts’ expectations of $922.13 million. On average, research analysts anticipate that ChampionX will post 1.92 EPS for the current fiscal year.

Institutional Trading of ChampionX

Large investors have recently added to or reduced their stakes in the business. Westfield Capital Management Co. LP boosted its stake in shares of ChampionX by 27.3% during the 4th quarter. Westfield Capital Management Co. LP now owns 891,381 shares of the company’s stock worth $26,037,000 after acquiring an additional 190,928 shares in the last quarter. Fisher Asset Management LLC raised 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 during the last quarter. Norden Group LLC lifted its stake in shares of ChampionX by 2,033.3% in the first quarter. Norden Group LLC now owns 251,775 shares of the company’s stock valued at $9,036,000 after buying an additional 239,973 shares during the period. Stifel Financial Corp increased its stake in ChampionX by 24.4% during the fourth quarter. Stifel Financial Corp now owns 226,181 shares of the company’s stock valued at $6,607,000 after acquiring an additional 44,300 shares during the period. Finally, Hawk Ridge Capital Management LP bought a new stake in shares of ChampionX in the 4th quarter worth approximately $67,592,000. 98.99% of the stock is owned by institutional investors.

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.