ChampionX Co. (NASDAQ:CHX) Plans Quarterly Dividend of $0.08

ChampionX Co. (NASDAQ:CHXGet Rating) declared a quarterly dividend on Thursday, May 12th, Zacks reports. Shareholders of record on Friday, July 1st will be given a dividend of 0.075 per share on Friday, July 29th. This represents a $0.30 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, June 30th.

ChampionX has a dividend payout ratio of 18.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ChampionX to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 18.4%.

NASDAQ CHX opened at $21.77 on Friday. The stock has a 50 day moving average of $23.58 and a 200-day moving average of $22.97. ChampionX has a 12 month low of $19.00 and a 12 month high of $30.48. The company has a market cap of $4.43 billion, a PE ratio of 31.55 and a beta of 2.88. The company has a current ratio of 1.85, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39.

ChampionX (NASDAQ:CHXGet Rating) last announced its quarterly earnings results on Tuesday, April 26th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. The firm had revenue of $865.96 million for the quarter, compared to analyst estimates of $833.75 million. ChampionX had a return on equity of 8.92% and a net margin of 4.43%. During the same period last year, the firm posted $0.08 earnings per share. As a group, sell-side analysts predict that ChampionX will post 1.14 EPS for the current fiscal year.

A number of equities analysts have commented on the company. Piper Sandler raised ChampionX from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $28.00 to $30.00 in a research note on Monday, April 11th. The Goldman Sachs Group upgraded ChampionX from a “sell” rating to a “neutral” rating and set a $24.00 price target for the company in a research note on Tuesday, February 22nd. Barclays upped their price objective on ChampionX from $33.00 to $38.00 in a research report on Monday, May 2nd. Finally, Bank of America lowered ChampionX from a “buy” rating to a “neutral” rating in a report on Friday, March 11th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $28.83.

Several institutional investors and hedge funds have recently modified their holdings of CHX. Covestor Ltd increased its position in ChampionX by 683.0% during the first quarter. Covestor Ltd now owns 2,216 shares of the company’s stock worth $54,000 after buying an additional 1,933 shares during the period. Advisors Asset Management Inc. increased its stake in ChampionX by 175.6% in the fourth quarter. Advisors Asset Management Inc. now owns 2,954 shares of the company’s stock valued at $60,000 after purchasing an additional 1,882 shares during the last quarter. MML Investors Services LLC increased its stake in ChampionX by 15.3% in the fourth quarter. MML Investors Services LLC now owns 10,565 shares of the company’s stock valued at $214,000 after purchasing an additional 1,403 shares during the last quarter. Two Sigma Investments LP acquired a new stake in ChampionX during the third quarter worth about $259,000. Finally, Jaffetilchin Investment Partners LLC acquired a new stake in ChampionX during the first quarter worth about $325,000. 96.89% of the stock is owned by institutional investors and hedge funds.

About ChampionX (Get Rating)

ChampionX Corporation provides chemistry solutions, and engineered equipment and technologies to oil and gas companies worldwide. The company's Production Chemical Technologies segment offers onshore and offshore chemical solutions, such as corrosion inhibitors, scale inhibitors, emulsion breakers, and biocides to oil and natural gas production and midstream markets to manage and control corrosion, oil and water separation, flow assurance, sour gas treatment, and water-related issues.

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