ChampionX Co. to Issue Quarterly Dividend of $0.10 (NASDAQ:CHX)

ChampionX Co. (NASDAQ:CHX) announced a quarterly dividend on Wednesday, July 3rd, Zacks reports. Shareholders of record on Friday, July 5th will be given a dividend of 0.095 per share on Friday, July 26th. This represents a $0.38 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Friday, July 5th.

ChampionX has a dividend payout ratio of 16.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect ChampionX to earn $2.27 per share next year, which means the company should continue to be able to cover its $0.38 annual dividend with an expected future payout ratio of 16.7%.

ChampionX Price Performance

Shares of NASDAQ CHX opened at $33.37 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.83. ChampionX has a fifty-two week low of $25.46 and a fifty-two week high of $39.95. The stock has a market cap of $6.35 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.38 and a beta of 2.41. The stock has a fifty day moving average of $32.85 and a 200-day moving average of $31.90.

ChampionX (NASDAQ:CHX) last issued its earnings results on Wednesday, April 24th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.40 by $0.10. The business had revenue of $922.14 million during the quarter, compared to the consensus estimate of $922.13 million. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. Equities research analysts anticipate that ChampionX will post 1.92 earnings per share for the current year.

Analyst Ratings Changes

CHX has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Piper Sandler raised their price target on shares of ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Citigroup upped their price target on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $40.33.

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.