ChampionX (NASDAQ:CHX) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

ChampionX (NASDAQ:CHX) released its quarterly earnings data on Tuesday. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03, Zacks reports. ChampionX had a return on equity of 19.74% and a net margin of 8.59%.

ChampionX Price Performance

NASDAQ CHX traded up $0.77 on Tuesday, reaching $29.30. The company had a trading volume of 2,221,768 shares, compared to its average volume of 3,046,003. The stock has a market capitalization of $5.58 billion, a PE ratio of 18.20 and a beta of 2.35. ChampionX has a 12 month low of $25.57 and a 12 month high of $39.95. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average price is $28.63 and its 200 day moving average price is $30.11.

ChampionX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 3rd were given a dividend of $0.095 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.30%. ChampionX’s dividend payout ratio is 23.60%.

Insider Buying and Selling at ChampionX

In related news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total value of $1,482,048.18. Following the sale, the insider now directly owns 337,409 shares of the company’s stock, valued at $10,142,514.54. This represents a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.38% of the company’s stock.

Analysts Set New Price Targets

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

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.