During the last session, ChampionX Corp. (NASDAQ:CHX)’s traded shares were 7.18 million, with the beta value of the company hitting 2.44. At the end of the trading day, the stock’s price was $39.34, reflecting an intraday gain of 1.52% or $0.59. The 52-week high for the CHX share is $39.55, that puts it down -0.53 from that peak though still a striking 36.5% gain since the share price plummeted to a 52-week low of $24.98. The company’s market capitalization is $7.52B, and the average intraday trading volume over the past 10 days was 4.02 million shares, and the average trade volume was 1.89 million shares over the past three months.
ChampionX Corp. (NASDAQ:CHX) trade information
ChampionX Corp. (CHX) registered a 1.52% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.52% in intraday trading to $39.34, hitting a weekly high. The stock’s 5-day price performance is 9.61%, and it has moved by 25.81% in 30 days. Based on these gigs, the overall price performance for the year is 40.20%. The short interest in ChampionX Corp. (NASDAQ:CHX) is 8.72 million shares and it means that shorts have 6.66 day(s) to cover.
ChampionX Corp. (CHX) estimates and forecasts
Statistics show that ChampionX Corp. has underperformed its competitors in share price, compared to the industry in which it operates. ChampionX Corp. (CHX) shares have gone up 17.47% during the last six months, with a year-to-date growth rate less than the industry average at 8.94% against 10.70. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 13.90% this quarter and then drop -4.10% in the quarter after that. In the rating firms’ projections, revenue will increase 3.50% compared to the previous financial year.
Revenue for the current quarter is expected to be $922.23 million as predicted by 8 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $956.13 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $948.35 million and $926.6 million respectively. In this case, analysts expect current quarter sales to shrink by -2.80% and then jump by 3.20% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 5.66%. While earnings are projected to return 10.07% in 2024, the next five years will return 20.90% per annum.
CHX Dividends
ChampionX Corp. is due to release its next quarterly earnings between April 22 and April 26. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for ChampionX Corp. is 0.43, with the dividend yield indicating at 1.11 percent, continuing the trend of increasing dividends in recent years.
ChampionX Corp. (NASDAQ:CHX)’s Major holders
ChampionX Corp. insiders own 0.89% of total outstanding shares while institutional holders control 105.68%, with the float percentage being 106.63%. Blackrock Inc. is the largest shareholder of the company, while 542 institutions own stock in it. As of Jun 29, 2023, the company held over 23.62 million shares (or 11.82% of all shares), a total value of $733.14 million in shares.
The next largest institutional holding, with 20.23 million shares, is of Vanguard Group Inc’s that is approximately 10.13% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $628.09 million.
Also, the Mutual Funds coming in first place with the largest holdings of ChampionX Corp. (CHX) shares are Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 6.21 million shares. This amounts to just over 3.11 percent of the company’s overall shares, with a $192.62 million market value. The same data shows that the other fund manager holds slightly less at 6.15 million, or about 3.08% of the stock, which is worth about $219.0 million.
