ChampionX Co. (NASDAQ:CHX - Free Report) - Investment analysts at Capital One Financial lowered their FY2024 earnings per share estimates for shares of ChampionX in a research report issued to clients and investors on Monday, October 21st. Capital One Financial analyst D. Becker now forecasts that the company will post earnings per share of $1.67 for the year, down from their prior forecast of $1.97. The consensus estimate for ChampionX's current full-year earnings is $1.99 per share. Capital One Financial also issued estimates for ChampionX's Q4 2024 earnings at $0.39 EPS, Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.41 EPS, Q3 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.47 EPS and FY2025 earnings at $1.67 EPS.
Separately, Piper Sandler lowered their target price on shares of ChampionX from $40.00 to $33.00 and set a "neutral" rating on the stock in a report on Monday, July 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $39.00.
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ChampionX Stock Performance
NASDAQ:CHX traded down $0.62 during midday trading on Thursday, reaching $29.03. The stock had a trading volume of 923,530 shares, compared to its average volume of 1,868,478. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.34. The stock has a market cap of $5.53 billion, a P/E ratio of 16.11, a P/E/G ratio of 1.27 and a beta of 2.37. The firm has a fifty day simple moving average of $30.63 and a two-hundred day simple moving average of $32.43. ChampionX has a 12-month low of $25.46 and a 12-month high of $39.95.
ChampionX (NASDAQ:CHX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). The company had revenue of $906.53 million for the quarter, compared to analyst estimates of $916.50 million. ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The firm's revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 earnings per share.
Institutional Investors Weigh In On ChampionX
Several institutional investors and hedge funds have recently made changes to their positions in CHX. Allspring Global Investments Holdings LLC acquired a new stake in ChampionX in the 1st quarter worth about $27,000. Blue Trust Inc. boosted its position in shares of ChampionX by 442.4% in the third quarter. Blue Trust Inc. now owns 1,329 shares of the company's stock worth $44,000 after acquiring an additional 1,084 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in ChampionX during the second quarter worth approximately $68,000. UMB Bank n.a. raised its stake in ChampionX by 63.7% during the third quarter. UMB Bank n.a. now owns 2,266 shares of the company's stock worth $68,000 after purchasing an additional 882 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in shares of ChampionX in the 1st quarter valued at $136,000. 98.99% of the stock is currently owned by hedge funds and other institutional investors.
ChampionX Dividend Announcement
The company also recently disclosed 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. This represents a $0.38 annualized dividend and a yield of 1.31%. The ex-dividend date is Friday, October 4th. ChampionX's payout ratio is currently 20.65%.
ChampionX Company Profile
(
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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.
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