BlackRock Fund Advisors has recently announced that it has increased stake in ChampionX Corporation (NASDAQ:CHX) by 0.48%. After grabbing 21.2 million shares, the institutional investor is now in possession of 0.1 million shares of the Energy Company. The new investment brought the stake of investor firm to 10.67% having worth around $648.06 million. Moreover, The Vanguard Group, Inc. increased its share by 64888.0 to have a control over 19.63 million shares. And Brown Advisory LLC raised its holdings to 0.93 million shares by acquiring 7.06 million shares or 3.56% of the stake.
ChampionX Corporation (CHX) concluded trading on 03/15/23 at a closing price of $25.61, with 2.51 million shares of worth about $64.33 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 16.99% during that period and on Wednesday the price saw a loss of about -6.74%. Currently the company’s common shares owned by public are about 199.16M shares, out of which, 197.74M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 10 analysts are covering the CHX stock and their offered price forecasts bring an average price target of $35.56. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $41.00 and could fall to a lowest price of $32.00. The stock’s current price level is 27.98% above of average price target set by the analysts, while a rise to estimated low would result in gain of 19.97% for the stock. However, touching the estimated high of $41.00 would mean a gain of 37.54% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 77 times over the past 12 months. They bought 640,599 shares in 27 of the transactions. In 50 selling transactions, insiders dumped 607,456 shares.
iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in ChampionX Corporation iShares Core S&P Mid Cap ETF is currently holding 6.22 million shares of worth totaling $190.22 million. The company recently came buying 14100.0 shares which brought its stake up to 3.13% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 30582.0 shares, after which its hold over company’s outstanding shares expand to 3.07%, leaving 6.1 million shares with the mutual fund that have a worth of about $186.49 million. Vanguard Small Cap Index Fund, after buying 5.16 million shares, have now control over 2.60% of the stake in the company. It holds 28274.0 shares of worth $157.89 million.
ChampionX Corporation (NASDAQ: CHX) started trading at $26.12, below -$1.34 from concluding price of the previous day. However, the stock later moved at a day high price of 26.38, or with a loss of -6.74%. Stock saw a price change of -15.23% in past 5 days and over the past one month there was a price change of -20.14%. Year-to-date (YTD), CHX shares are showing a performance of -11.66% which increased to 3.60% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $16.64 but also hit the highest price of $33.65 during that period. The average intraday trading volume for ChampionX Corporation shares is 1.60 million. The stock is currently trading -16.56% below its 20-day simple moving average (SMA20), while that difference is down -17.04% for SMA50 and it goes to 0.18% higher than SMA200.
BlackRock Fund Advisors acquired 21.2 million shares of ChampionX Corporation having value of about $648.06 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.1 million shares in the company valued at close to $2614934.66, or have control over 0.48% stake in the company. Holding of mutual funds in the company is about 37.80% while other institutional holders and individual stake holders have control over 62.94% and 0.93% of the stake respectively.
The stock has a current market capitalization of $5.14B and its 3Y-monthly beta is at 2.60. PE ratio of stock for trailing 12 months is 34.15, while it has posted earnings per share of $0.75 in the same period. Its PEG reads 1.08 and has Quick Ratio of 1.10 while making debt-to-equity ratio of 0.37. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CHX, volatility over the week remained 5.77% while standing at 4.83% over the month.
Analysts are in expectations that ChampionX Corporation (CHX) stock would likely to be making an EPS of $0.37 in the current quarter, while forecast for next quarter EPS is $0.44 and it is $2.25 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.35 which is $0.38 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.22 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 37.50% while it is estimated to increase by 23.49% in next year. EPS is likely to grow at an annualized rate of 31.70% for next 5-years, compared to annual growth of -11.90% made by the stock over the past 5-years.
Analysts at 10 brokerage firms have issued recommendations for the ChampionX Corporation (CHX)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.80. Out of those 10 Wall Street analysts, 7 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Barclays on October 06, 2022 offering an Equal weight rating for the stock and assigned a target price range of between $38 and $28 to it. Coverage by The Benchmark Company stated ChampionX Corporation (CHX) stock as a Buy in their note to investors on August 25, 2022, suggesting a price target of $32 for the stock. On July 15, 2022, BofA Securities Upgrade their recommendations, while on April 11, 2022, Piper Sandler Upgrade their ratings for the stock with a price target of $30. Stock get a Neutral rating from BofA Securities on March 11, 2022.
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