ChampionX (NASDAQ:CHX) Announces Earnings Results

ChampionX (NASDAQ:CHX) released its quarterly earnings data on Wednesday. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.11), Zacks reports. The business had revenue of $893.30 million for the quarter, compared to the consensus estimate of $954.91 million. ChampionX had a return on equity of 19.84% and a net margin of 8.66%. ChampionX’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 earnings per share.

ChampionX Stock Up 0.6 %

CHX traded up $0.20 during trading hours on Friday, hitting $34.28. 406,520 shares of the company’s stock were exchanged, compared to its average volume of 1,970,510. The company has a quick ratio of 1.16, a current ratio of 1.83 and a debt-to-equity ratio of 0.35. ChampionX has a 1-year low of $25.46 and a 1-year high of $39.95. The stock’s 50-day moving average is $32.68 and its two-hundred day moving average is $32.31. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 1.41 and a beta of 2.41.

ChampionX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, July 5th. ChampionX’s dividend payout ratio is presently 20.65%.

Wall Street Analyst Weigh In

CHX has been the subject of a number of recent analyst reports. Piper Sandler dropped their target price on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Barclays increased 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ChampionX currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

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.