ChampionX (NASDAQ:CHX) Issues Earnings Results, Misses Estimates By $0.11 EPS

ChampionX (NASDAQ:CHX) released its quarterly earnings results on Wednesday. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.11), Zacks reports. The firm had revenue of $893.30 million for the quarter, compared to analyst estimates of $954.91 million. ChampionX had a return on equity of 19.84% and a net margin of 8.66%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.48 EPS.

ChampionX Price Performance

CHX stock traded up $0.05 on Friday, reaching $34.13. 456,857 shares of the company’s stock were exchanged, compared to its average volume of 1,970,862. The stock has a fifty day moving average of $32.68 and a 200-day moving average of $32.31. The firm has a market cap of $6.50 billion, a PE ratio of 18.52, a P/E/G ratio of 1.41 and a beta of 2.41. The company has a quick ratio of 1.16, a current ratio of 1.83 and a debt-to-equity ratio of 0.35. ChampionX has a twelve month low of $25.46 and a twelve month high of $39.95.

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be issued a $0.095 dividend. The ex-dividend date is Friday, July 5th. This represents a $0.38 annualized dividend and a dividend yield of 1.11%. ChampionX’s dividend payout ratio is currently 20.65%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CHX. Barclays raised their price objective on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Piper Sandler lowered their price target on ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

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.