Stifel Nicolaus Boosts ChampionX (NASDAQ:CHX) Price Target to $40.00

ChampionX (NASDAQ:CHX - Get Free Report) had its price target raised by equities research analysts at Stifel Nicolaus from $39.00 to $40.00 in a report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' price objective suggests a potential upside of 61.37% from the company's previous close.

ChampionX Stock Down 1.8 %

NASDAQ CHX traded down $0.44 during trading on Monday, reaching $24.79. 1,632,230 shares of the company's stock were exchanged, compared to its average volume of 2,612,785. The firm has a market capitalization of $4.75 billion, a PE ratio of 15.02 and a beta of 1.52. ChampionX has a fifty-two week low of $21.92 and a fifty-two week high of $35.94. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32. The company's fifty day simple moving average is $27.10 and its 200-day simple moving average is $28.45.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.09. The firm had revenue of $864.46 million for the quarter, compared to analyst estimates of $900.59 million. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. Sell-side analysts predict that ChampionX will post 1.92 EPS for the current year.

Institutional Investors Weigh In On ChampionX

Several institutional investors and hedge funds have recently modified their holdings of CHX. Jones Financial Companies Lllp lifted its position in shares of ChampionX by 153.2% in the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock worth $25,000 after buying an additional 559 shares during the last quarter. Venturi Wealth Management LLC boosted its position in ChampionX by 1,051.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company's stock worth $51,000 after purchasing an additional 1,725 shares during the period. Signaturefd LLC grew its holdings in ChampionX by 51.6% during the first quarter. Signaturefd LLC now owns 2,321 shares of the company's stock valued at $69,000 after purchasing an additional 790 shares during the last quarter. UMB Bank n.a. raised its position in shares of ChampionX by 45.5% in the first quarter. UMB Bank n.a. now owns 3,097 shares of the company's stock valued at $92,000 after purchasing an additional 969 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of ChampionX in the fourth quarter worth $103,000. Institutional investors and hedge funds own 98.99% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.