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

ChampionX Co. (NASDAQ:CHX) announced a quarterly dividend on Tuesday, December 31st,Wall Street Journal reports. Stockholders 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 dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, January 3rd.

ChampionX has a dividend payout ratio of 21.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 1.8 %

CHX stock opened at $27.19 on Wednesday. ChampionX has a one year low of $25.46 and a one year high of $39.95. The firm has a market cap of $5.18 billion, a PE ratio of 16.89 and a beta of 2.38. The firm’s 50 day moving average price is $29.21 and its 200-day moving average price is $30.77. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94.

ChampionX (NASDAQ:CHX) last posted its earnings results 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 analysts’ expectations of $916.50 million. ChampionX had a net margin of 8.59% and a return on equity of 19.74%. ChampionX’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 EPS. On average, equities research analysts anticipate that ChampionX will post 1.66 EPS for the current year.

Insiders Place Their Bets

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of the 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 sale, the insider now owns 337,409 shares of the company’s stock, valued at $10,142,514.54. This trade represents 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. Insiders own 1.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.