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Q3 EPS Estimates for ChampionX Cut by Capital One Financial

ChampionX logo with Energy background

ChampionX Co. (NASDAQ:CHX - Free Report) - Research analysts at Capital One Financial lowered their Q3 2024 earnings estimates for ChampionX in a report released on Monday, October 21st. Capital One Financial analyst D. Becker now forecasts that the company will post earnings per share of $0.41 for the quarter, down from their previous estimate of $0.53. The consensus estimate for ChampionX's current full-year earnings is $1.99 per share.

Separately, Piper Sandler dropped their price objective on shares of ChampionX from $40.00 to $33.00 and set a "neutral" rating on the stock in a research note on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $39.00.

Read Our Latest Research Report on CHX

ChampionX Trading Up 0.3 %

NASDAQ CHX traded up $0.08 during mid-day trading on Wednesday, hitting $29.65. The company's stock had a trading volume of 1,264,559 shares, compared to its average volume of 1,873,088. ChampionX has a 52-week low of $25.46 and a 52-week high of $39.95. The stock's fifty day simple moving average is $30.66 and its two-hundred day simple moving average is $32.45. 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 firm has a market capitalization of $5.65 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 1.27 and a beta of 2.37.

ChampionX (NASDAQ:CHX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.11). ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The business had revenue of $893.30 million during the quarter, compared to analysts' expectations of $954.91 million. During the same quarter in the previous year, the business posted $0.48 EPS. The company's quarterly revenue was down 3.6% on a year-over-year basis.

Institutional Trading of ChampionX

A number of hedge funds and other institutional investors have recently made changes to their positions in CHX. Wellington Management Group LLP bought a new stake in shares of ChampionX in the fourth quarter worth $6,881,000. Vanguard Group Inc. boosted its holdings in ChampionX by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,033,091 shares of the company's stock worth $585,167,000 after purchasing an additional 62,967 shares during the period. Park Avenue Securities LLC boosted its holdings in ChampionX by 4.7% in the first quarter. Park Avenue Securities LLC now owns 36,659 shares of the company's stock worth $1,316,000 after purchasing an additional 1,635 shares during the period. Ballentine Partners LLC acquired a new position in ChampionX in the first quarter worth $202,000. Finally, Legend Financial Advisors Inc. boosted its holdings in ChampionX by 3.5% in the first quarter. Legend Financial Advisors Inc. now owns 21,132 shares of the company's stock worth $758,000 after purchasing an additional 720 shares during the period. Institutional investors own 98.99% of the company's stock.

ChampionX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.28%. ChampionX's dividend payout ratio (DPR) is presently 20.65%.

ChampionX Company Profile

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for ChampionX (NASDAQ:CHX)

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