ChampionX (NASDAQ:CHX) Posts Earnings Results

ChampionX (NASDAQ:CHX) issued its earnings results on Tuesday. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03, Zacks reports. ChampionX had a return on equity of 19.74% and a net margin of 8.59%.

ChampionX Stock Up 2.7 %

Shares of NASDAQ:CHX opened at $29.30 on Wednesday. The company’s 50-day moving average price is $28.60 and its two-hundred day moving average price is $30.07. The firm has a market cap of $5.58 billion, a P/E ratio of 18.20 and a beta of 2.35. ChampionX has a 12 month low of $25.57 and a 12 month high of $39.95. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.33.

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 3rd were issued a dividend of $0.095 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.30%. ChampionX’s dividend payout ratio is 23.60%.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut their price objective on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 14th.

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.