ChampionX (NASDAQ:CHX) Announces Quarterly Earnings Results

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

ChampionX Stock Down 0.4 %

Shares of CHX traded down $0.12 during trading hours on Thursday, hitting $29.53. 74,407 shares of the company were exchanged, compared to its average volume of 1,864,356. The company has a market cap of $5.62 billion, a PE ratio of 16.11, a PEG ratio of 1.27 and a beta of 2.37. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.25 and a current ratio of 1.99. The firm’s 50 day moving average is $30.63 and its 200-day moving average is $32.43. ChampionX has a 52 week low of $25.46 and a 52 week high of $39.95.

ChampionX Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their price target on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.