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

ChampionX Co. (NASDAQ:CHX) announced a quarterly dividend on Wednesday, October 2nd, Zacks reports. Stockholders of record on Friday, October 4th will be given a dividend of 0.095 per share on Friday, October 25th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, October 4th.

ChampionX has a payout ratio of 16.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ChampionX to earn $2.39 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 15.9%.

ChampionX Trading Up 1.7 %

NASDAQ CHX opened at $31.56 on Thursday. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.24 and a beta of 2.37. ChampionX has a one year low of $25.46 and a one year high of $39.95. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.99 and a quick ratio of 1.25. The business’s fifty day moving average is $30.92 and its 200-day moving average is $32.91.

ChampionX (NASDAQ:CHX) last released its earnings results on Wednesday, July 24th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.11). ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The business had revenue of $893.30 million for the quarter, compared to the consensus estimate of $954.91 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts predict that ChampionX will post 1.99 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price objective on ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.