ChampionX (NASDAQ:CHX) Posts Earnings Results, Misses Estimates By $0.01 EPS

ChampionX (NASDAQ:CHX) issued its quarterly earnings results on Wednesday. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01), Briefing.com reports. The company had revenue of $906.53 million for the quarter, compared to analyst estimates of $916.50 million. ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS.

ChampionX Trading Up 1.0 %

Shares of CHX stock traded up $0.29 on Friday, hitting $29.32. The stock had a trading volume of 1,713,427 shares, compared to its average volume of 1,867,729. The firm has a market cap of $5.58 billion, a P/E ratio of 15.78, a PEG ratio of 1.27 and a beta of 2.37. ChampionX has a twelve month low of $25.46 and a twelve month high of $39.95. The company has a current ratio of 1.99, a quick ratio of 1.25 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average price of $30.58 and a two-hundred day moving average price of $32.40.

ChampionX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.38 annualized dividend and a yield of 1.30%. ChampionX’s dividend payout ratio (DPR) is presently 20.65%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their target price on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research 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 company. According to MarketBeat.com, ChampionX currently has an average rating of “Moderate Buy” and an average 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.