ChampionX Co. (NASDAQ:CHX) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of ChampionX Co. (NASDAQ:CHX - Get Free Report) have been given a consensus rating of "Moderate Buy" by the six ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $40.33.

A number of analysts have commented on the stock. Barclays upped their price objective on shares of ChampionX from $39.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, April 4th. Citigroup increased their price target on shares of ChampionX from $39.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, March 27th. Finally, Piper Sandler increased their price objective on ChampionX from $32.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, April 8th.

ChampionX Price Performance

CHX traded up $0.21 on Thursday, reaching $36.28. The company had a trading volume of 2,487,102 shares, compared to its average volume of 2,020,264. The company has a fifty day moving average of $33.56 and a 200-day moving average of $31.14. The company has a market capitalization of $6.93 billion, a P/E ratio of 23.11, a PEG ratio of 1.16 and a beta of 2.44. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36. ChampionX has a one year low of $24.98 and a one year high of $39.95.

ChampionX (NASDAQ:CHX - Get Free Report) last announced its earnings results on Tuesday, February 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. ChampionX had a net margin of 8.36% and a return on equity of 20.14%. The firm had revenue of $943.56 million during the quarter, compared to analyst estimates of $947.33 million. During the same quarter in the prior year, the firm posted $0.43 EPS. ChampionX's revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that ChampionX will post 1.95 earnings per share for the current year.

ChampionX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be paid a $0.095 dividend. This is an increase 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 annualized dividend and a dividend yield of 1.05%. ChampionX's dividend payout ratio (DPR) is presently 24.20%.

Insider Transactions at ChampionX

In other news, insider William Jr. O'dell sold 27,178 shares of the firm's 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in ChampionX by 0.5% during the first quarter. BlackRock Inc. now owns 24,501,257 shares of the company's stock worth $599,791,000 after buying an additional 126,529 shares in the last quarter. Vanguard Group Inc. lifted its position in ChampionX by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 20,033,091 shares of the company's stock worth $585,167,000 after buying an additional 62,967 shares in the last quarter. Alliancebernstein L.P. lifted its position in ChampionX by 13.7% during the 2nd quarter. Alliancebernstein L.P. now owns 8,184,487 shares of the company's stock worth $254,046,000 after buying an additional 988,872 shares in the last quarter. State Street Corp raised its holdings in ChampionX by 6.1% during the 1st 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 last quarter. Finally, FMR LLC increased its stake in shares of ChampionX by 20.2% in the 3rd quarter. FMR LLC now owns 7,109,432 shares of the company's stock valued at $253,238,000 after acquiring an additional 1,193,122 shares during the last quarter. 98.99% of the stock is owned by institutional investors.

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.