ChampionX (NASDAQ:CHX) Shares Gap Down to $32.50

Shares of ChampionX Co. (NASDAQ:CHX – Get Rating) gapped down before the market opened on Thursday . The stock had previously closed at $32.50, but opened at $29.88. ChampionX shares last traded at $29.28, with a volume of 274,291 shares.

Analyst Ratings Changes

Several research analysts have recently weighed in on CHX shares. Citigroup increased their price objective on shares of ChampionX from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, November 1st. Barclays downgraded shares of ChampionX from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $38.00 to $28.00 in a research report on Thursday, October 6th. Finally, The Goldman Sachs Group increased their target price on shares of ChampionX from $21.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 2nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.67.

ChampionX Price Performance

The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 37.45, a price-to-earnings-growth ratio of 0.42 and a beta of 2.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.85 and a quick ratio of 1.14. The business has a fifty day moving average price of $29.92 and a 200 day moving average price of $25.68.

ChampionX (NASDAQ:CHX – Get Rating) last released its earnings results on Wednesday, February 1st. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The firm had revenue of $985.86 million for the quarter, compared to analyst estimates of $1.01 billion. ChampionX had a return on equity of 12.89% and a net margin of 3.58%. ChampionX’s revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. On average, research analysts expect that ChampionX Co. will post 1.22 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 27th. Investors of record on Friday, January 6th were issued a $0.075 dividend. The ex-dividend date was Thursday, January 5th. This represents a $0.30 annualized dividend and a yield of 1.05%. ChampionX’s dividend payout ratio (DPR) is currently 40.00%.

Insider Buying and Selling at ChampionX

In related news, CEO Sivasankaran Somasundaram sold 4,872 shares of the company’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $32.48, for a total transaction of $158,242.56. Following the completion of the sale, the chief executive officer now directly owns 373,728 shares of the company’s stock, valued at approximately $12,138,685.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other ChampionX news, CAO Antoine Marcos sold 146,955 shares of the stock in a transaction on Monday, January 9th. The shares were sold at an average price of $30.00, for a total value of $4,408,650.00. Following the completion of the sale, the chief accounting officer now directly owns 42,380 shares of the company’s stock, valued at approximately $1,271,400. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sivasankaran Somasundaram sold 4,872 shares of the stock in a transaction on Friday, November 11th. The shares were sold at an average price of $32.48, for a total transaction of $158,242.56. Following the completion of the sale, the chief executive officer now directly owns 373,728 shares of the company’s stock, valued at $12,138,685.44. The disclosure for this sale can be found here. Insiders have sold a total of 154,924 shares of company stock worth $4,661,661 over the last 90 days. Insiders own 1.10% of the company’s stock.

Institutional Trading of ChampionX

Institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC grew its holdings in shares of ChampionX by 27.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,688 shares of the company’s stock worth $33,000 after purchasing an additional 368 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of ChampionX by 33.1% in the third quarter. Rockefeller Capital Management L.P. now owns 2,291 shares of the company’s stock valued at $44,000 after acquiring an additional 570 shares during the last quarter. First Horizon Advisors Inc. grew its position in ChampionX by 10,763.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,390 shares of the company’s stock worth $47,000 after acquiring an additional 2,368 shares during the last quarter. Wipfli Financial Advisors LLC acquired a new stake in ChampionX during the 3rd quarter valued at $53,000. Finally, Huntington National Bank raised its position in ChampionX by 43.6% in the 3rd quarter. Huntington National Bank now owns 2,718 shares of the company’s stock valued at $54,000 after purchasing an additional 825 shares during the last quarter. 98.46% of the stock is currently owned by institutional investors and hedge funds.

ChampionX Company Profile

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ChampionX Corp. engages in the provision of chemistry programs and services for global upstream oil and natural gas industry. It operates under the following segments: Production Chemical Technologies, Production and Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies.