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

ChampionX (NASDAQ:CHX) posted its quarterly earnings data 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. ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The company had revenue of $906.53 million for the quarter, compared to analysts’ expectations of $916.50 million. During the same quarter last year, the business posted $0.41 EPS. The business’s quarterly revenue was down 3.5% compared to the same quarter last year.

ChampionX Stock Up 1.0 %

Shares of NASDAQ CHX traded up $0.29 on Friday, reaching $29.32. 1,713,427 shares of the company’s stock traded hands, compared to its average volume of 1,867,729. 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 business’s 50 day simple moving average is $30.53 and its two-hundred day simple moving average is $32.34. ChampionX has a 12 month low of $25.46 and a 12 month high of $39.95. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 1.27 and a beta of 2.37.

ChampionX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Friday, October 4th. ChampionX’s payout ratio is currently 20.65%.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their price objective on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

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.