ChampionX Co. to Issue Quarterly Dividend of $0.10 (NASDAQ:CHX)

ChampionX Co. (NASDAQ:CHX) declared a quarterly dividend on Monday, November 18th,Wall Street Journal reports. Investors of record on Friday, January 3rd will be given a dividend of 0.095 per share on Friday, January 31st. This represents a $0.38 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Friday, January 3rd.

ChampionX has a dividend payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Analysts expect ChampionX to earn $1.90 per share next year, which means the company should continue to be able to cover its $0.38 annual dividend with an expected future payout ratio of 20.0%.

ChampionX Stock Performance

NASDAQ:CHX opened at $30.53 on Wednesday. ChampionX has a 1 year low of $25.46 and a 1 year high of $39.95. The firm’s fifty day simple moving average is $30.30 and its 200 day simple moving average is $31.61. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $5.82 billion, a PE ratio of 18.96 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). The company had revenue of $906.53 million during the quarter, compared to analyst estimates of $916.50 million. ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. On average, sell-side analysts anticipate that ChampionX will post 1.66 EPS for the current year.

Wall Street Analysts Forecast Growth

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 research report on Thursday, November 14th.

Insider Transactions at ChampionX

In other ChampionX 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 transaction, the insider now directly owns 337,409 shares in the company, valued at $10,142,514.54. The trade was a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.38% of the stock is owned by insiders.

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.