ChampionX (CHX) to Release Quarterly Earnings on Wednesday

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

ChampionX (NASDAQ:CHX) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $943.56 million for the quarter, compared to analyst estimates of $947.33 million. ChampionX had a return on equity of 20.14% and a net margin of 8.36%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 earnings per share. 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

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

ChampionX Increases Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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