ChampionX (NASDAQ:CHX) Posts Earnings Results, Beats Expectations By $0.03 EPS

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

ChampionX Stock Performance

Shares of ChampionX stock traded up $0.77 on Tuesday, reaching $29.30. 2,221,768 shares of the stock were exchanged, compared to its average volume of 3,046,003. ChampionX has a twelve month low of $25.57 and a twelve month high of $39.95. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 18.20 and a beta of 2.35. The business has a 50 day moving average price of $28.63 and a two-hundred day moving average price of $30.11.

ChampionX Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, Citigroup lowered their target price on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 14th.

Insider Buying and Selling at ChampionX

In related news, insider Deric D. Bryant sold 49,303 shares of ChampionX stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the completion of the transaction, the insider now directly owns 337,409 shares in the company, valued at approximately $10,142,514.54. This trade represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.38% 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.