Q3 EPS Estimates for ChampionX Cut by Capital One Financial

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.

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

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.