ChampionX (NASDAQ:CHX) Price Target Lowered to $40.00 at Citigroup

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

ChampionX Price Performance

Shares of ChampionX stock traded down $0.30 during trading hours on Thursday, reaching $30.58. The stock had a trading volume of 431,371 shares, compared to its average volume of 1,856,189. The stock’s 50 day moving average is $30.18 and its 200 day moving average is $31.70. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33. ChampionX has a twelve month low of $25.46 and a twelve month high of $39.95. The firm has a market capitalization of $5.83 billion, a PE ratio of 19.10 and a beta of 2.38.

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

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were paid a $0.095 dividend. The ex-dividend date was Friday, October 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.24%. ChampionX’s dividend payout ratio (DPR) is 23.60%.

Insider Activity at ChampionX

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

Hedge Funds Weigh In On ChampionX

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

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.