ChampionX (NASDAQ:CHX) Posts Earnings Results

ChampionX (NASDAQ:CHX) announced its quarterly earnings results on Tuesday. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03, Zacks reports. ChampionX had a net margin of 8.59% and a return on equity of 19.74%.

ChampionX Stock Up 2.7 %

Shares of NASDAQ:CHX traded up $0.77 during midday trading on Tuesday, hitting $29.30. 2,221,768 shares of the company’s stock traded hands, compared to its average volume of 3,046,003. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. The company has a market cap of $5.58 billion, a PE ratio of 18.20 and a beta of 2.35. The firm’s fifty day moving average price is $28.63 and its two-hundred day moving average price is $30.11. ChampionX has a twelve month low of $25.57 and a twelve month high of $39.95.

ChampionX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 3rd were issued a dividend of $0.095 per share. The ex-dividend date was Friday, January 3rd. This represents a $0.38 annualized dividend and a dividend yield of 1.30%. ChampionX’s payout ratio is 23.60%.

Insider Activity at ChampionX

In other news, insider Deric D. Bryant sold 49,303 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total value of $1,482,048.18. Following the completion of the sale, the insider now owns 337,409 shares of the company’s stock, valued at approximately $10,142,514.54. The trade was a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.38% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup decreased their price target on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 14th.

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.