Capital One Financial Predicts Weaker Earnings for ChampionX

ChampionX Co. (NASDAQ:CHX) – Investment analysts at Capital One Financial reduced their Q3 2024 EPS estimates for shares of ChampionX in a note issued to investors on Monday, October 21st. Capital One Financial analyst D. Becker now anticipates that the company will earn $0.41 per share for the quarter, down from their prior estimate of $0.53. The consensus estimate for ChampionX’s current full-year earnings is $1.99 per share.

ChampionX (NASDAQ:CHX) last announced its earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The business had revenue of $906.53 million for the quarter, compared to analyst estimates of $916.50 million. During the same quarter in the previous year, the company earned $0.41 EPS. The business’s revenue for the quarter was down 3.5% on a year-over-year basis.

Separately, Piper Sandler cut their price target on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $39.00.

ChampionX Stock Performance

Shares of ChampionX stock opened at $29.03 on Wednesday. The company has a 50 day moving average of $30.63 and a 200-day moving average of $32.43. ChampionX has a 1-year low of $25.46 and a 1-year high of $39.95. The company has a current ratio of 1.99, a quick ratio of 1.25 and a debt-to-equity ratio of 0.34. The company has a market cap of $5.53 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 1.27 and a beta of 2.37.

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.095 per share. The ex-dividend date is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.31%. ChampionX’s dividend payout ratio (DPR) is presently 20.65%.

Hedge Funds Weigh In On ChampionX

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in ChampionX during the first quarter worth $27,000. Blue Trust Inc. increased its stake in ChampionX by 442.4% in the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock valued at $44,000 after purchasing an additional 1,084 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in ChampionX in the second quarter valued at $68,000. UMB Bank n.a. increased its stake in ChampionX by 63.7% in the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after purchasing an additional 882 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in ChampionX in the first quarter valued at $136,000. Institutional investors own 98.99% of the company’s stock.

About ChampionX

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.