Fintel reports that on October 27, 2023, Piper Sandler maintained coverage of ChampionX (NASDAQ:CHX) with a Overweight recommendation.
Analyst Price Forecast Suggests 32.83% Upside
As of October 5, 2023, the average one-year price target for ChampionX is 40.34. The forecasts range from a low of 33.33 to a high of $45.15. The average price target represents an increase of 32.83% from its latest reported closing price of 30.37.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for ChampionX is 4,170MM, an increase of 9.72%. The projected annual non-GAAP EPS is 1.87.
ChampionX Declares $0.08 Dividend
On August 30, 2023 the company declared a regular quarterly dividend of $0.08 per share ($0.34 annualized). Shareholders of record as of October 6, 2023 received the payment on October 27, 2023. Previously, the company paid $0.08 per share.
At the current share price of $30.37 / share, the stock's dividend yield is 1.12%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.70%, the lowest has been 0.79%, and the highest has been 11.26%. The standard deviation of yields is 1.19 (n=236).
The current dividend yield is 0.49 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.22. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.16%.
What is the Fund Sentiment?
There are 945 funds or institutions reporting positions in ChampionX. This is an increase of 19 owner(s) or 2.05% in the last quarter. Average portfolio weight of all funds dedicated to CHX is 0.38%, an increase of 3.43%. Total shares owned by institutions increased in the last three months by 0.03% to 254,710K shares. 
The put/call ratio of CHX is 0.29, indicating a bullish outlook.
What are Other Shareholders Doing?
Alliancebernstein holds 8,184K shares representing 4.16% ownership of the company. In it's prior filing, the firm reported owning 7,196K shares, representing an increase of 12.08%. The firm increased its portfolio allocation in CHX by 46.46% over the last quarter.
American Century Companies holds 7,318K shares representing 3.72% ownership of the company. In it's prior filing, the firm reported owning 6,009K shares, representing an increase of 17.89%. The firm increased its portfolio allocation in CHX by 33.36% over the last quarter.
Brown Advisory holds 6,254K shares representing 3.18% ownership of the company. In it's prior filing, the firm reported owning 6,778K shares, representing a decrease of 8.38%. The firm decreased its portfolio allocation in CHX by 42.83% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,206K shares representing 3.16% ownership of the company. In it's prior filing, the firm reported owning 6,152K shares, representing an increase of 0.86%. The firm increased its portfolio allocation in CHX by 6.48% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 6,005K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 6,128K shares, representing a decrease of 2.04%. The firm increased its portfolio allocation in CHX by 7.40% over the last quarter.
ChampionX Background Information
(This description is provided by the company.)
ChampionX (formerly known as Apergy Corporation) is a global leader in chemistry solutions and highly engineered equipment and technologies that help companies drill for and produce oil and gas safely and efficiently around the world. ChampionX's products provide efficient functioning throughout the lifecycle of a well with a focus on the production phase of wells.
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This story originally appeared on Fintel.
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