ChampionX (NASDAQ:CHX) Announces Quarterly Earnings Results

ChampionX (NASDAQ:CHX) posted its quarterly earnings data on Wednesday. The company reported $0.44 earnings per share 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 during the quarter, compared to analysts’ expectations of $916.50 million. During the same period in the prior year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis.

ChampionX Stock Performance

Shares of NASDAQ CHX traded down $0.19 during trading on Thursday, reaching $29.46. 49,353 shares of the stock traded hands, compared to its average volume of 1,864,235. ChampionX has a 52-week low of $25.46 and a 52-week high of $39.95. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.99 and a quick ratio of 1.25. The company has a 50-day moving average of $30.63 and a 200-day moving average of $32.43. The stock has a market capitalization of $5.61 billion, a P/E ratio of 16.11, 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. Stockholders of record on Friday, October 4th will be given a dividend of $0.095 per share. The ex-dividend date is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.29%. ChampionX’s dividend payout ratio is presently 20.65%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their price objective on ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.