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

ChampionX (NASDAQ:CHX - Get Free Report) released its quarterly earnings results 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. The firm had revenue of $906.53 million during the quarter, compared to the consensus estimate of $916.50 million. ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The company's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS.

ChampionX Trading Down 2.1 %

NASDAQ CHX traded down $0.62 during trading on Thursday, hitting $29.03. 923,530 shares of the company's stock traded hands, compared to its average volume of 1,868,478. The stock has a fifty day moving average of $30.63 and a two-hundred day moving average of $32.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.99 and a quick ratio of 1.25. ChampionX has a 12-month low of $25.46 and a 12-month high of $39.95. The firm has a market cap of $5.53 billion, a P/E ratio of 16.11, a PEG ratio of 1.27 and a beta of 2.37.

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders 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 annualized dividend and a yield of 1.31%. ChampionX's payout ratio is 20.65%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their target price on shares of ChampionX from $40.00 to $33.00 and set a "neutral" rating for the company in a research report 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. Based on data from MarketBeat.com, ChampionX currently has a consensus rating of "Moderate Buy" and a consensus price target 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.