In yesterday’s Wall Street session, ChampionX Corporation (NASDAQ:CHX) shares traded at $34.87, down -0.54% from the previous session.
10 analysts cover ChampionX Corporation (NASDAQ:CHX), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $42.00 and a low of $32.00, we find $38.25. Given the previous closing price of $35.06, this indicates a potential upside of 9.1 percent. CHX stock price is now 18.61% away from the 50-day moving average and 21.10% away from the 200-day moving average. The market capitalization of the company currently stands at $6.80B.
The stock has received a hold rating from 2 analysts and a buy rating from 7. Brokers who have rated the stock have averaged $37.55 as their price target over the next twelve months.
With the price target of $40, CapitalOne recently initiated with Overweight rating for ChampionX Corporation (NASDAQ: CHX).
In other news, Somasundaram Sivasankaran, President & CEO sold 13,883 shares of the company’s stock on Jul 25. The stock was sold for $500,124 at an average price of $36.02. Upon completion of the transaction, the President & CEO now directly owns 455,499 shares in the company, valued at $15.88 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 24, Bryant Deric D. sold 173,705 shares of the business’s stock. A total of $6,088,860 was realized by selling the stock at an average price of $35.05. This leaves the insider owning 354,934 shares of the company worth $12.38 million. Insiders disposed of 685,694 shares of company stock worth roughly $23.91 million over the past 1 year. A total of 0.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CHX stock. A new stake in ChampionX Corporation shares was purchased by KENSICO CAPITAL MANAGEMENT CORP during the first quarter worth $26,634,000. WESTFIELD CAPITAL MANAGEMENT CO LP invested $21,020,000 in shares of CHX during the first quarter. In the first quarter, TWINBEECH CAPITAL LP acquired a new stake in ChampionX Corporation valued at approximately $14,524,000. EMPOWERED FUNDS, LLC acquired a new stake in CHX for approximately $2,998,000. ORION PORTFOLIO SOLUTIONS, LLC purchased a new stake in CHX valued at around $2,888,000 in the second quarter. In total, there are 516 active investors with 101.41% ownership of the company’s stock.
On Tuesday morning ChampionX Corporation (NASDAQ: CHX) stock kicked off with the opening price of $34.51. During the past 12 months, ChampionX Corporation has had a low of $17.83 and a high of $35.21. As of last week, the company has a debt-to-equity ratio of 0.36, a current ratio of 1.70, and a quick ratio of 1.00. According to the stock market information, the enterprise value for the company is $7.38B, which is based on a 39.27 price-to-earnings ratio, a 1.24 price-to-earnings-growth ratio, and a beta of 2.60. The fifty day moving average price for CHX is $29.40 and a two-hundred day moving average price translates $28.79 for the stock.
The latest earnings results from ChampionX Corporation (NASDAQ: CHX) was released for Jun, 2023. According to the Oil & Gas Equipment & Services Company, earnings per share came in at $0.49, beating analysts’ expectations of $0.44 by 0.05. This compares to $0.18 EPS in the same period last year. The net profit margin was 4.70% and return on equity was 10.50% for CHX. The company reported revenue of $948.35 million for the quarter, compared to $865.96 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.51 percent. For the current quarter, analysts expect CHX to generate $1.01B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/28/2023. Investors who held shares on 07/07/2023 were paid a $0.085 dividend. On an annualized basis, this represents a $0.34 dividend and a 0.98% percent yield. There was an ex-dividend date of 07/06/2023 for this dividend. In terms of dividend payout ratio, CHX is presently at 34.10%.
ChampionX Corporation(CHX) Company Profile
ChampionX Corporation provides chemistry solutions, 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. The Production Chemical Technologies segment offers onshore and offshore chemical solutions, such as corrosion inhibitors, scale inhibitors, emulsion breakers, and biocides to oil and natural gas production and midstream markets to manage and control corrosion, oil and water separation, flow assurance, sour gas treatment, and water-related issues. The Production & Automation Technologies segment provides artificial lift equipment, end-to-end automation and digital solutions, and other production equipment, including electrical submersible pumping systems, gas lift systems, jet pumps, multiplex surface pumps, plunger lift equipment, progressive cavity pumping systems, downhole rod lift systems, emissions monitoring solutions, chemical injection systems, flow control valves, and gauges under the Harbison-Fischer, Norris, Alberta Oil Tool, Oil Lift Technology, PCS Ferguson, Pro-Rod, Upco, Unbridled ESP, Norriseal-Wellmark, Quartzdyne, Spirit, Theta, Timberline, and Windrock brands. The Drilling Technologies segment offers polycrystalline diamond cutter inserts, bearings, valves, and mining tools under the US Synthetic brand for use in oil and gas drill bits, renewable energy applications, mixers, and agitators; and high-density ceramic roof bolt mining tools for underground mining operations. The Reservoir Chemical Technologies segment provides chemistry-oriented solutions and technologies for well drilling, cementing, fracturing, acidizing, and other well interventions, as well as fracturing fluid packages, drilling and cement additives, and products for acidizing activities. The company was founded in 1882 and is headquartered in The Woodlands, Texas.
