ChampionX Co. (NASDAQ:CHX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

ChampionX Co. (NASDAQ:CHX) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $40.33.

A number of research firms have recently weighed in on CHX. Barclays lifted 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. Piper Sandler lifted their price objective on shares of ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Citigroup increased their target price on shares of ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th.

ChampionX Stock Down 1.4 %

Shares of ChampionX stock opened at $32.76 on Tuesday. The company has a 50-day simple moving average of $32.92 and a two-hundred day simple moving average of $31.87. 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 0.35, a quick ratio of 1.16 and a current ratio of 1.83. The stock has a market capitalization of $6.24 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 1.38 and a beta of 2.41.

ChampionX (NASDAQ:CHX) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.40 by $0.10. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. The company had revenue of $922.14 million during the quarter, compared to the consensus estimate of $922.13 million. On average, analysts anticipate that ChampionX will post 1.92 EPS for the current fiscal year.

ChampionX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be issued a $0.095 dividend. The ex-dividend date is Friday, July 5th. This represents a $0.38 annualized dividend and a dividend yield of 1.16%. ChampionX’s payout ratio is currently 20.65%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CHX. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of 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 during the last quarter. Seven Eight Capital LP acquired a new stake in ChampionX in the third quarter worth about $250,000. Westfield Capital Management Co. LP grew its stake in shares of ChampionX by 27.3% during the fourth 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 during the last quarter. Fisher Asset Management LLC increased its holdings in shares of ChampionX by 7.2% during the fourth quarter. Fisher Asset Management LLC now owns 365,798 shares of the company’s stock valued at $10,685,000 after acquiring an additional 24,662 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of ChampionX by 24.4% in 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 during the last quarter. 98.99% of the stock is currently owned by hedge funds and other 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.