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

ChampionX Co. (NASDAQ:CHX) declared a quarterly dividend on Wednesday, July 3rd, Zacks reports. Investors of record on Friday, July 5th will be paid a dividend of 0.095 per share on Friday, July 26th. This represents a $0.38 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Friday, July 5th.

ChampionX has a dividend payout ratio of 16.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ChampionX to earn $2.27 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 16.7%.

ChampionX Price Performance

Shares of CHX stock opened at $33.37 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.83 and a debt-to-equity ratio of 0.35. ChampionX has a 12-month low of $25.46 and a 12-month high of $39.95. The firm has a fifty day moving average of $32.85 and a 200-day moving average of $31.90. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 1.38 and a beta of 2.41.

ChampionX (NASDAQ:CHX) last posted its earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. The firm had revenue of $922.14 million during the quarter, compared to analysts’ expectations of $922.13 million. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. On average, equities research analysts forecast that ChampionX will post 1.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CHX shares. Citigroup lifted their price target on shares of ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Barclays upped their target price on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Piper Sandler lifted their price target on ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.33.

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.