ChampionX (NASDAQ:CHX) Posts Earnings Results, Misses Estimates By $0.01 EPS

ChampionX (NASDAQ:CHX) announced its earnings results on Wednesday. The company reported $0.44 earnings per share (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 the consensus estimate of $916.50 million. ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share.

ChampionX Trading Up 1.0 %

NASDAQ CHX traded up $0.29 during trading hours on Friday, hitting $29.32. 1,713,427 shares of the company were exchanged, compared to its average volume of 1,867,729. The stock has a market cap of $5.58 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.27 and a beta of 2.37. ChampionX has a 52 week low of $25.46 and a 52 week high of $39.95. The stock has a 50-day moving average price of $30.53 and a 200 day moving average price of $32.34. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.34.

ChampionX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Friday, October 4th. ChampionX’s payout ratio is 20.65%.

Analysts Set New Price Targets

Separately, Piper Sandler cut their price objective 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company 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.