ChampionX Co. (NASDAQ:CHX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

ChampionX Co. (NASDAQ:CHX) has earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $40.33.

A number of research firms have recently weighed in on CHX. Barclays upped their price objective on ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Citigroup increased their price objective on shares of ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Finally, Piper Sandler boosted their target price on shares of ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, April 8th.

Insider Transactions at ChampionX

In other ChampionX news, insider William Jr. O’dell sold 27,178 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $36.00, for a total transaction of $978,408.00. Following the completion of the transaction, the insider now owns 57,748 shares in the company, valued at $2,078,928. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.38% of the company’s stock.

Institutional Investors Weigh In On ChampionX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legend Financial Advisors Inc. boosted its holdings in shares of ChampionX by 3.5% in the 1st quarter. Legend Financial Advisors Inc. now owns 21,132 shares of the company’s stock worth $758,000 after purchasing an additional 720 shares during the period. FCF Advisors LLC purchased a new stake in ChampionX in the first quarter worth $1,520,000. Ballentine Partners LLC purchased a new stake in ChampionX in the first quarter worth $202,000. Congress Asset Management Co. MA lifted its holdings in ChampionX by 2.1% during the 1st quarter. Congress Asset Management Co. MA now owns 3,991,117 shares of the company’s stock valued at $143,241,000 after buying an additional 80,626 shares in the last quarter. Finally, Park Avenue Securities LLC increased its holdings in ChampionX by 4.7% during the 1st quarter. Park Avenue Securities LLC now owns 36,659 shares of the company’s stock worth $1,316,000 after purchasing an additional 1,635 shares during the period. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

ChampionX Price Performance

NASDAQ CHX opened at $36.07 on Thursday. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.17 and a beta of 2.44. ChampionX has a 12 month low of $24.98 and a 12 month high of $39.95. The company’s 50 day moving average is $33.41 and its two-hundred day moving average is $31.10. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.44 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 the consensus estimate of $947.33 million. ChampionX had a net margin of 8.36% and a return on equity of 20.14%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $0.43 EPS. As a group, research analysts anticipate that ChampionX will post 1.95 earnings per share for the current year.

ChampionX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be paid a $0.095 dividend. This is an increase from ChampionX’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.05%. ChampionX’s payout ratio is presently 24.20%.

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.