ChampionX (NASDAQ:CHX) Given New $40.00 Price Target at Citigroup

ChampionX (NASDAQ:CHX) had its price target trimmed by Citigroup from $45.00 to $40.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

ChampionX Trading Down 0.8 %

NASDAQ CHX opened at $30.64 on Thursday. ChampionX has a 52 week low of $25.46 and a 52 week high of $39.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. The stock’s 50 day moving average price is $30.21 and its two-hundred day moving average price is $31.65. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 19.03 and a beta of 2.38.

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

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were issued a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, October 4th. ChampionX’s payout ratio is 23.60%.

Insider Buying and Selling

In other news, insider Deric D. Bryant sold 49,303 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the transaction, the insider now directly owns 337,409 shares in the company, valued at $10,142,514.54. The trade was a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ChampionX

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in ChampionX during the 1st quarter valued at $27,000. Blue Trust Inc. increased its holdings in shares of ChampionX by 442.4% in the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock valued at $44,000 after purchasing an additional 1,084 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of ChampionX in the second quarter valued at about $68,000. UMB Bank n.a. lifted its stake in shares of ChampionX by 63.7% during the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after buying an additional 882 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its holdings in shares of ChampionX by 18.9% during the 1st quarter. EntryPoint Capital LLC now owns 5,817 shares of the company’s stock worth $209,000 after buying an additional 923 shares during the period. Institutional investors own 98.99% of the company’s stock.

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.