ChampionX (NASDAQ:CHX) Announces Earnings Results

ChampionX (NASDAQ:CHX) announced its earnings results on Wednesday. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01), Briefing.com reports. ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The business had revenue of $906.53 million for the quarter, compared to the consensus estimate of $916.50 million. During the same quarter in the previous year, the company posted $0.41 EPS. ChampionX’s revenue for the quarter was down 3.5% on a year-over-year basis.

ChampionX Stock Down 0.4 %

NASDAQ CHX traded down $0.12 on Thursday, reaching $29.53. The company had a trading volume of 74,407 shares, compared to its average volume of 1,864,356. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 1.27 and a beta of 2.37. The company’s fifty day moving average is $30.63 and its 200-day moving average is $32.43. ChampionX has a 1-year low of $25.46 and a 1-year high of $39.95. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.25 and a current ratio of 1.99.

ChampionX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.29%. ChampionX’s payout ratio is 20.65%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler decreased their price objective on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

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.