ChampionX (NASDAQ:CHX) Shares Down 3.1% - Should You Sell?

ChampionX Co. (NASDAQ:CHX - Get Free Report) shares dropped 3.1% on Friday . The stock traded as low as $30.17 and last traded at $30.22. Approximately 1,002,290 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 1,864,499 shares. The stock had previously closed at $31.18.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their price target 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 issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.00.

ChampionX Stock Down 4.6 %

The company has a market cap of $5.67 billion, a PE ratio of 16.41, a P/E/G ratio of 1.27 and a beta of 2.37. The company has a current ratio of 1.99, a quick ratio of 1.25 and a debt-to-equity ratio of 0.34. The company's 50 day moving average is $30.73 and its 200 day moving average is $32.71.

ChampionX (NASDAQ:CHX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.37 earnings per share 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 company had revenue of $893.30 million for the quarter, compared to the consensus estimate of $954.91 million. During the same period in the prior year, the firm posted $0.48 EPS. The business's revenue was down 3.6% on a year-over-year basis. As a group, analysts predict that ChampionX Co. will post 1.99 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, October 4th. ChampionX's dividend payout ratio (DPR) is presently 20.65%.

Institutional Investors Weigh In On ChampionX

Several hedge funds have recently modified their holdings of CHX. Wellington Management Group LLP purchased a new stake in shares of ChampionX during the fourth quarter valued at about $6,881,000. Fisher Asset Management LLC increased its position in shares of ChampionX by 7.2% during the fourth quarter. Fisher Asset Management LLC now owns 365,798 shares of the company's stock worth $10,685,000 after purchasing an additional 24,662 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of ChampionX by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 20,033,091 shares of the company's stock valued at $585,167,000 after purchasing an additional 62,967 shares during the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of ChampionX in the 4th quarter worth $277,000. Finally, Rise Advisors LLC acquired a new position in ChampionX during the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 98.99% of the company's stock.

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.