ChampionX Co. (NASDAQ:CHX) Declares Quarterly Dividend of $0.10

ChampionX Co. (NASDAQ:CHX - Get Free Report) declared a quarterly dividend on Thursday, May 16th, Zacks reports. Stockholders of record on Friday, July 5th will be given a dividend of 0.095 per share on Friday, July 26th. This represents a $0.38 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Friday, July 5th.

ChampionX has a dividend payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ChampionX to earn $2.42 per share next year, which means the company should continue to be able to cover its $0.38 annual dividend with an expected future payout ratio of 15.7%.

ChampionX Stock Up 0.5 %

CHX traded up $0.17 during trading on Friday, hitting $34.36. The company had a trading volume of 1,048,711 shares, compared to its average volume of 1,991,663. The company has a market cap of $6.54 billion, a PE ratio of 18.67, a P/E/G ratio of 1.08 and a beta of 2.45. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.83 and a quick ratio of 1.16. ChampionX has a 1-year low of $24.98 and a 1-year high of $39.95. The business has a 50-day moving average of $35.08 and a 200-day moving average of $31.25.

ChampionX (NASDAQ:CHX - Get Free Report) last issued its earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.10. The business had revenue of $922.14 million for the quarter, compared to analyst estimates of $922.13 million. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. As a group, analysts forecast that ChampionX will post 1.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CHX shares. Piper Sandler lifted their target price on ChampionX from $32.00 to $40.00 and gave the stock a "neutral" rating in a research report on Monday, April 8th. Barclays raised their price target on shares of ChampionX from $39.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, April 4th. Finally, Citigroup boosted their price objective 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $40.33.

Insider Transactions at ChampionX

In other ChampionX news, insider William Jr. O'dell sold 27,178 shares of the firm's stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.38% 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.