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

ChampionX (NASDAQ:CHX) had its target price increased by Citigroup from $39.00 to $40.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Separately, Piper Sandler lowered ChampionX from an overweight rating to a neutral rating and lowered their target price for the company from $38.00 to $32.00 in a research note on Monday, January 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, ChampionX currently has an average rating of Moderate Buy and an average price target of $37.50.

ChampionX Stock Performance

Shares of CHX opened at $35.45 on Wednesday. The firm has a market cap of $6.77 billion, a PE ratio of 22.58, a PEG ratio of 1.08 and a beta of 2.43. The stock’s fifty day moving average price is $30.38 and its two-hundred day moving average price is $31.01. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.82 and a quick ratio of 1.15. ChampionX has a 1 year low of $24.98 and a 1 year high of $38.37.

ChampionX (NASDAQ:CHX) last issued its earnings results on Tuesday, February 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $943.56 million for the quarter, compared to analyst estimates of $947.33 million. ChampionX had a return on equity of 20.14% and a net margin of 8.36%. The business’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. On average, equities research analysts forecast that ChampionX will post 1.95 EPS for the current year.

ChampionX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.07%. This is a positive change from ChampionX’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, April 4th. ChampionX’s payout ratio is presently 21.66%.

Hedge Funds Weigh In On ChampionX

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in ChampionX in the 4th quarter worth about $26,000. Pinebridge Investments L.P. increased its stake in ChampionX by 1,075.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,175 shares of the company’s stock worth $36,000 after acquiring an additional 1,075 shares during the last quarter. NewEdge Advisors LLC increased its stake in ChampionX by 654.0% in the 1st quarter. NewEdge Advisors LLC now owns 1,870 shares of the company’s stock worth $51,000 after acquiring an additional 1,622 shares during the last quarter. Covestor Ltd increased its stake in ChampionX by 683.0% in the 1st quarter. Covestor Ltd now owns 2,216 shares of the company’s stock worth $54,000 after acquiring an additional 1,933 shares during the last quarter. Finally, West Tower Group LLC increased its stake in ChampionX by 43.0% in the 4th quarter. West Tower Group LLC now owns 1,955 shares of the company’s stock worth $57,000 after acquiring an additional 588 shares during the last quarter. 98.99% of the stock is currently owned by 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.