ChampionX Co. (CHX) to Issue Quarterly Dividend of $0.10 on July 26th

ChampionX Co. (NASDAQ:CHX) declared a quarterly dividend on Tuesday, July 2nd, Zacks reports. Investors of record on Friday, July 5th will be given a dividend of 0.095 per share on Friday, July 26th. This represents a $0.38 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, July 5th.

ChampionX has a payout ratio of 16.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ChampionX to earn $2.27 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 16.7%.

ChampionX Price Performance

ChampionX stock opened at $33.01 on Wednesday. The firm has a market capitalization of $6.29 billion, a P/E ratio of 17.94, a PEG ratio of 1.38 and a beta of 2.41. ChampionX has a one year low of $25.46 and a one year 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 fifty day moving average price of $32.87 and a 200-day moving average price of $31.89.

ChampionX (NASDAQ:CHX) last posted its earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.10. The business had revenue of $922.14 million for the quarter, compared to analysts’ expectations of $922.13 million. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. As a group, equities research analysts forecast that ChampionX will post 1.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Piper Sandler upped their price objective on shares of ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Barclays increased their price objective on ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, Citigroup lifted their target price 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 four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.33.

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.