ChampionX (NASDAQ:CHX – Get Rating) had its target price raised by equities researchers at Citigroup from $30.00 to $34.00 in a research note issued to investors on Tuesday, The Fly reports. Citigroup’s price target points to a potential upside of 18.80% from the company’s previous close.
Other research analysts also recently issued research reports about the stock. Benchmark assumed coverage on shares of ChampionX in a report on Wednesday, August 24th. They set a “buy” rating and a $32.00 price objective on the stock. Barclays downgraded shares of ChampionX from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $38.00 to $28.00 in a report on Thursday, October 6th. Bank of America upgraded shares of ChampionX from a “neutral” rating to a “buy” rating and lowered their target price for the company from $25.00 to $22.00 in a report on Friday, July 15th. Finally, The Goldman Sachs Group lowered their target price on shares of ChampionX from $26.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, July 13th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.83.
ChampionX Stock Up 0.8 %
Shares of NASDAQ CHX opened at $28.62 on Tuesday. The firm has a market cap of $5.71 billion, a PE ratio of 45.43, a P/E/G ratio of 0.41 and a beta of 2.52. ChampionX has a 12-month low of $16.64 and a 12-month high of $29.99. The company’s fifty day simple moving average is $22.09 and its 200 day simple moving average is $21.68. The company has a quick ratio of 1.14, a current ratio of 1.85 and a debt-to-equity ratio of 0.38.
ChampionX (NASDAQ:CHX – Get Rating) last released its quarterly earnings data on Tuesday, October 25th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. ChampionX had a net margin of 3.58% and a return on equity of 12.89%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $944.63 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. The business’s revenue was up 24.7% on a year-over-year basis. As a group, sell-side analysts forecast that ChampionX will post 1.21 earnings per share for the current fiscal year.
Insider Activity at ChampionX
In other ChampionX news, CAO Antoine Marcos sold 146,950 shares of the stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $28.55, for a total transaction of $4,195,422.50. Following the completion of the transaction, the chief accounting officer now owns 51,465 shares in the company, valued at $1,469,325.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Antoine Marcos sold 146,950 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $28.55, for a total value of $4,195,422.50. Following the completion of the transaction, the chief accounting officer now directly owns 51,465 shares in the company, valued at $1,469,325.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Julia Wright sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $29.19, for a total transaction of $379,470.00. Following the completion of the transaction, the vice president now owns 72,624 shares of the company’s stock, valued at $2,119,894.56. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
Institutional Investors Weigh In On ChampionX
Institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Investment Management Company LLC raised its stake in shares of ChampionX by 1.4% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 34,046 shares of the company’s stock worth $676,000 after acquiring an additional 484 shares in the last quarter. US Bancorp DE raised its stake in shares of ChampionX by 0.6% during the second quarter. US Bancorp DE now owns 107,194 shares of the company’s stock worth $2,127,000 after acquiring an additional 599 shares in the last quarter. FinTrust Capital Advisors LLC raised its stake in shares of ChampionX by 113.6% during the first quarter. FinTrust Capital Advisors LLC now owns 1,160 shares of the company’s stock worth $28,000 after acquiring an additional 617 shares in the last quarter. Mariner LLC raised its stake in shares of ChampionX by 3.2% during the first quarter. Mariner LLC now owns 22,146 shares of the company’s stock worth $542,000 after acquiring an additional 694 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in shares of ChampionX by 4.9% in the first quarter. Crossmark Global Holdings Inc. now owns 17,020 shares of the company’s stock worth $416,000 after buying an additional 800 shares during the period. 98.74% of the stock is owned by hedge funds and other institutional investors.
ChampionX Company Profile
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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