Piper Sandler Boosts ChampionX (NASDAQ:CHX) Price Target to $40.00

ChampionX (NASDAQ:CHX - Free Report) had its target price increased by Piper Sandler from $32.00 to $40.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts also recently commented on the company. Citigroup upped their price objective on ChampionX from $39.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, March 27th. Barclays upped their price objective on ChampionX from $39.00 to $51.00 and gave the company an overweight rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $40.33.

ChampionX Stock Performance

Shares of NASDAQ CHX traded down $0.85 during midday trading on Monday, reaching $38.49. The company's stock had a trading volume of 4,038,321 shares, compared to its average volume of 1,989,297. ChampionX has a 12-month low of $24.98 and a 12-month high of $39.95. The firm has a 50 day moving average price of $32.03 and a 200-day moving average price of $31.00. The stock has a market capitalization of $7.36 billion, a P/E ratio of 24.52, a PEG ratio of 1.24 and a beta of 2.44. 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 (NASDAQ:CHX - Get Free Report) last announced its earnings results on Tuesday, February 6th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $947.33 million. During the same quarter in the previous year, the business earned $0.43 EPS. The company's revenue was down 4.3% compared to the same quarter last year. As a group, equities analysts predict that ChampionX will post 1.95 earnings per share for the current year.

ChampionX Increases Dividend

The firm also recently announced 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 is a boost from ChampionX's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.38 dividend on an annualized basis and a yield of 0.99%. ChampionX's payout ratio is presently 24.20%.

Insider Buying and Selling at ChampionX

In other ChampionX news, insider William Jr. O'dell sold 27,178 shares of the business's stock in a transaction on Thursday, March 28th. The shares were 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 of the company's stock, valued at approximately $2,078,928. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.22% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of ChampionX by 0.5% in the first quarter. BlackRock Inc. now owns 24,501,257 shares of the company's stock worth $599,791,000 after purchasing an additional 126,529 shares during the period. Vanguard Group Inc. increased its holdings in shares of ChampionX by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,033,091 shares of the company's stock worth $585,167,000 after purchasing an additional 62,967 shares during the period. Alliancebernstein L.P. increased its holdings in shares of ChampionX by 13.7% in the second quarter. Alliancebernstein L.P. now owns 8,184,487 shares of the company's stock worth $254,046,000 after purchasing an additional 988,872 shares during the period. State Street Corp increased its holdings in shares of ChampionX by 6.1% in the first quarter. State Street Corp now owns 7,422,065 shares of the company's stock worth $201,357,000 after purchasing an additional 426,656 shares during the period. Finally, FMR LLC increased its holdings in shares of ChampionX by 20.2% in the third quarter. FMR LLC now owns 7,109,432 shares of the company's stock worth $253,238,000 after purchasing an additional 1,193,122 shares during the period. Institutional investors own 98.99% of the company's stock.

About ChampionX

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.