ChampionX (NASDAQ:CHX) Announces Earnings Results

ChampionX (NASDAQ:CHX) announced its quarterly earnings data on Wednesday. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01), Briefing.com reports. The business had revenue of $906.53 million for 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%. The business’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share.

ChampionX Trading Down 2.1 %

Shares of ChampionX stock opened at $29.03 on Friday. The firm has a 50-day simple moving average of $30.58 and a two-hundred day simple moving average of $32.40. 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 has a fifty-two week low of $25.46 and a fifty-two week high of $39.95. The company has a market cap of $5.53 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 1.27 and a beta of 2.37.

ChampionX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.38 annualized dividend and a yield of 1.31%. ChampionX’s dividend payout ratio is presently 20.65%.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price target 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, ChampionX currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

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.