ChampionX Corp. (NASDAQ:CHX) shares traded -4.67% lower at $29.61 on Wall Street last session.
In accordance with the data, 10 analysts cover ChampionX Corp. (NASDAQ:CHX). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $42.00 and a low of $37.00, we find $39.00. Given the previous closing price of $31.06, this indicates a potential upside of 25.56 percent. CHX stock price is now -16.61% away from the 50-day moving average and -5.44% away from the 200-day moving average. The market capitalization of the company currently stands at $5.82B.
It has been rated a hold by 1 analysts and a buy by 7. Brokers who have rated the stock have averaged $38.85 as their price target over the next twelve months.
With the price target enhanced from $33 to $42, Barclays Upgraded its rating from Equal Weight to Overweight for ChampionX Corp. (NASDAQ: CHX).
In other news, Bryant Deric D., insider sold 6,540 shares of the company’s stock on Oct 03. The stock was sold for $229,014 at an average price of $35.02. Upon completion of the transaction, the insider now directly owns 298,619 shares in the company, valued at $8.84 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 02, Bryant Deric D. sold 12,232 shares of the business’s stock. A total of $431,072 was realized by selling the stock at an average price of $35.24. This leaves the insider owning 305,159 shares of the company worth $9.04 million. Insiders disposed of 982,917 shares of company stock worth roughly $29.1 million over the past 1 year. A total of 0.75% 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 Corp. shares was purchased by LORD, ABBETT & CO. LLC during the first quarter worth $13,546,000. MAN GROUP PLC invested $6,087,000 in shares of CHX during the first quarter. In the first quarter, COMMONWEALTH EQUITY SERVICES, LLC acquired a new stake in ChampionX Corp. valued at approximately $3,772,000. JESSUP WEALTH MANAGEMENT, INC acquired a new stake in CHX for approximately $3,662,000. ICON ADVISERS INC/CO purchased a new stake in CHX valued at around $2,813,000 in the second quarter. In total, there are 507 active investors with 103.66% ownership of the company’s stock.
ChampionX Corp. (NASDAQ: CHX) opened at $30.95 on Thursday. During the past 12 months, ChampionX Corp. has had a low of $23.66 and a high of $38.37. As of last week, the company has a debt-to-equity ratio of 0.39, a current ratio of 1.87, and a quick ratio of 1.13. According to the stock market information, the enterprise value for the company is $6.15B, which is based on a 19.58 price-to-earnings ratio, a 0.62 price-to-earnings-growth ratio, and a beta of 2.60. The fifty day moving average price for CHX is $35.39 and a two-hundred day moving average price translates $31.31 for the stock.
The latest earnings results from ChampionX Corp. (NASDAQ: CHX) was released for Sep, 2023. The net profit margin was 8.02% and return on equity was 17.77% for CHX. The company reported revenue of $939.78 million for the quarter, compared to $1.02 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -8.01 percent.
Moreover, the firm recently paid out its quarterly dividend on 10/27/2023. Investors who held shares on 10/06/2023 were paid a $0.085 dividend. On an annualized basis, this represents a $0.33 dividend and a 1.10% percent yield. There was an ex-dividend date of 10/05/2023 for this dividend. In terms of dividend payout ratio, CHX is presently at 40.12%.
ChampionX Corp.(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.
