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ChampionX Corp. (CHX) Analysis & Forecast for 2024

ChampionX Corp. (NASDAQ: CHX) is 22.87% higher on its value in year-to-date trading and has touched a low of $24.98 and a high of $38.37 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CHX stock was last observed hovering at around $35.45 in the last trading session, with the day’s gains setting it 0.44%.

Currently trading at $35.89, the stock is 9.41% and 18.47% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.91 million and changing 1.24% at the moment leaves the stock 12.56% off its SMA200. CHX registered 34.67% gain for a year compared to 6-month loss of -2.21%. The firm has a 50-day simple moving average (SMA 50) of $1.93 and a 200-day simple moving average (SMA200) of $10.13.

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The stock witnessed a 15.33% gain in the last 1 month and extending the period to 3 months gives it a 18.41%, and is 4.45% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.07% over the week and 2.31% over the month.

ChampionX Corp. (CHX) has around 7100 employees, a market worth around $6.86B and $3.76B in sales. Current P/E ratio is 22.82 and Fwd P/E is 14.88. Profit margin for the company is 8.36%. Distance from 52-week low is 43.67% and -6.46% from its 52-week high. The company has generated returns on investments over the last 12 months (13.41%).

ChampionX Corp. quarterly earnings per share for the current quarter are estimated at $0.41 with sales reaching $922.23M over the same period.The EPS is expected to grow by 10.09% this year, but quarterly earnings will post 3.50% year-over-year. Quarterly sales are estimated to shrink -2.80% in year-over-year returns.

ChampionX Corp. (CHX) Top Institutional Holders

542 institutions hold shares in ChampionX Corp. (CHX), with institutional investors hold 106.63% of the company’s shares. The shares outstanding are 191.10M, and float is at 189.15M with Short Float at 4.61%. Institutions hold 105.68% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 23.62 million shares valued at $733.14 million. The investor’s holdings represent 11.82% of the CHX Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 20.23 million shares valued at $628.09 million to account for 10.13% of the shares outstanding. The other top investors are Alliancebernstein L.P. which holds 8.18 million shares representing 4.10% and valued at over $254.05 million, while American Century Companies, Inc. holds 3.66% of the shares totaling 7.32 million with a market value of $227.14 million.

ChampionX Corp. (CHX) Insider Activity

The most recent transaction is an insider sale by O’Dell William Jr.,the company’s. SEC filings show that O’Dell William Jr. sold 27,178 shares of the company’s common stock on Mar 28 ’24 at a price of $36.00 per share for a total of $0.98 million. Following the sale, the insider now owns 57748.0 shares.

ChampionX Corp. disclosed in a document filed with the SEC on Oct 03 ’23 that Bryant Deric D. () sold a total of 6,540 shares of the company’s common stock. The trade occurred on Oct 03 ’23 and was made at $35.02 per share for $0.23 million. Following the transaction, the insider now directly holds 0.3 million shares of the CHX stock.

Still, SEC filings show that on Oct 02 ’23, Bryant Deric D. () disposed off 12,232 shares at an average price of $35.24 for $0.43 million. The insider now directly holds 305,159 shares of ChampionX Corp. (CHX).

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