ChampionX (CHX) to Release Quarterly Earnings on Wednesday

ChampionX (NASDAQ:CHX) will be releasing its earnings data after the market closes on Wednesday, April 24th. Analysts expect ChampionX to post earnings of $0.40 per share for the quarter.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. ChampionX had a return on equity of 20.14% and a net margin of 8.36%. The firm had revenue of $943.56 million during the quarter, compared to analyst estimates of $947.33 million. During the same period last year, the company posted $0.43 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. On average, analysts expect ChampionX to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

ChampionX Stock Performance

CHX stock opened at $35.24 on Tuesday. The stock has a 50-day moving average price of $33.81 and a 200-day moving average price of $31.12. ChampionX has a 1-year low of $24.98 and a 1-year high of $39.95. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36. The firm has a market cap of $6.73 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 1.12 and a beta of 2.44.

ChampionX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be given a $0.095 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This is a positive change from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 annualized dividend and a dividend yield of 1.08%. ChampionX’s dividend payout ratio (DPR) is 24.20%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup lifted their price objective on ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Barclays lifted their price objective on ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Piper Sandler lifted their price objective on ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, ChampionX presently has an average rating of “Moderate Buy” and an average target price of $40.33.

Insider Activity at ChampionX

In related news, insider William Jr. O’dell sold 27,178 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $36.00, for a total value of $978,408.00. Following the completion of the sale, the insider now directly owns 57,748 shares of the company’s stock, valued at approximately $2,078,928. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.38% of the stock is currently owned by corporate insiders.

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.