ChampionX (NASDAQ:CHX) Reaches New 12-Month High on Analyst Upgrade

ChampionX Co. (NASDAQ:CHX - Get Free Report) shares hit a new 52-week high on Monday after Piper Sandler raised their price target on the stock from $32.00 to $40.00. Piper Sandler currently has a neutral rating on the stock. ChampionX traded as high as $39.95 and last traded at $39.36, with a volume of 146685 shares traded. The stock had previously closed at $39.34.

CHX has been the subject of a number of other research reports. Citigroup increased their target price on shares of ChampionX from $39.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, March 27th. Barclays upped their price target on shares of ChampionX from $39.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $40.33.

Insider Buying and Selling at ChampionX

In other news, insider William Jr. O'dell sold 27,178 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $36.00, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.22% of the stock is currently owned by company insiders.

Institutional Trading of ChampionX

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC acquired a new stake in ChampionX during the fourth quarter valued at $26,000. NewEdge Advisors LLC grew its position in ChampionX by 654.0% during the first quarter. NewEdge Advisors LLC now owns 1,870 shares of the company's stock valued at $51,000 after buying an additional 1,622 shares during the period. West Tower Group LLC grew its position in ChampionX by 43.0% during the fourth quarter. West Tower Group LLC now owns 1,955 shares of the company's stock valued at $57,000 after buying an additional 588 shares during the period. Parkside Financial Bank & Trust grew its position in ChampionX by 19.4% during the third quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company's stock valued at $77,000 after buying an additional 352 shares during the period. Finally, Covestor Ltd grew its position in ChampionX by 683.0% during the first quarter. Covestor Ltd now owns 2,216 shares of the company's stock valued at $54,000 after buying an additional 1,933 shares during the period. Institutional investors and hedge funds own 98.99% of the company's stock.

ChampionX Trading Down 2.2 %

The company has a market cap of $7.36 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 1.24 and a beta of 2.44. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.36. The company's 50-day moving average is $32.03 and its 200 day moving average is $31.00.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.44 EPS for the quarter, beating the consensus estimate 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 net margin of 8.36% and a return on equity of 20.14%. The firm's revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the business earned $0.43 earnings per share. Research analysts predict that ChampionX Co. will post 1.95 EPS for the current year.

ChampionX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 0.99%. This is an increase from ChampionX's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, April 4th. ChampionX's dividend payout ratio (DPR) is presently 24.20%.

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.