ChampionX (NASDAQ:CHX) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

ChampionX (NASDAQ:CHX - Free Report) had its price target raised by Stifel Nicolaus from $39.00 to $40.00 in a report released on Monday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

ChampionX Price Performance

NASDAQ CHX traded up $0.14 on Monday, reaching $25.10. 989,105 shares of the company's stock traded hands, compared to its average volume of 2,648,042. The stock has a market cap of $4.81 billion, a PE ratio of 15.21 and a beta of 1.52. ChampionX has a 12 month low of $21.92 and a 12 month high of $35.94. The stock has a 50-day simple moving average of $26.68 and a 200 day simple moving average of $28.28. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36.

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

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be paid a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Thursday, July 3rd. ChampionX's payout ratio is 25.17%.

Institutional Investors Weigh In On ChampionX

A number of large investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its holdings in shares of ChampionX by 153.2% during the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock worth $25,000 after purchasing an additional 559 shares during the period. Venturi Wealth Management LLC raised its position in ChampionX by 1,051.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company's stock valued at $51,000 after purchasing an additional 1,725 shares during the last quarter. Signaturefd LLC lifted its holdings in ChampionX by 51.6% in the 1st quarter. Signaturefd LLC now owns 2,321 shares of the company's stock worth $69,000 after buying an additional 790 shares during the period. UMB Bank n.a. grew its position in shares of ChampionX by 45.5% in the 1st quarter. UMB Bank n.a. now owns 3,097 shares of the company's stock worth $92,000 after buying an additional 969 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of ChampionX during the fourth quarter valued at approximately $103,000. Institutional investors 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.