ChampionX (CHX) Declares $0.08 Dividend

ChampionX said on May 11, 2023 that its board of directors declared a regular quarterly dividend of $0.08 per share ($0.34 annualized). Previously, the company paid $0.08 per share.

Shares must be purchased before the ex-div date of July 6, 2023 to qualify for the dividend. Shareholders of record as of July 7, 2023 will receive the payment on July 28, 2023.

At the current share price of $25.72 / share, the stock's dividend yield is 1.32%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.68%, the lowest has been 0.75%, and the highest has been 11.26%. The standard deviation of yields is 1.20 (n=237).

The current dividend yield is 0.30 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.37. 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 has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 905 funds or institutions reporting positions in ChampionX. This is an increase of 47 owner(s) or 5.48% in the last quarter. Average portfolio weight of all funds dedicated to CHX is 0.39%, an increase of 27.39%. Total shares owned by institutions decreased in the last three months by 6.12% to 249,578K shares. The put/call ratio of CHX is 0.29, indicating a bullish outlook.

Analyst Price Forecast Suggests 41.01% Upside

As of May 11, 2023, the average one-year price target for ChampionX is 36.27. The forecasts range from a low of 32.32 to a high of $42.00. The average price target represents an increase of 41.01% from its latest reported closing price of 25.72.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for ChampionX is 4,170MM, an increase of 7.24%. The projected annual non-GAAP EPS is 1.87.

What are Other Shareholders Doing?

Brown Advisory holds 7,049K shares representing 3.56% ownership of the company. In it's prior filing, the firm reported owning 7,062K shares, representing a decrease of 0.18%. The firm decreased its portfolio allocation in CHX by 59.17% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 6,157K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 5,930K shares, representing an increase of 3.68%. The firm increased its portfolio allocation in CHX by 34.23% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,070K shares representing 3.07% ownership of the company. In it's prior filing, the firm reported owning 6,050K shares, representing an increase of 0.33%. The firm increased its portfolio allocation in CHX by 37.26% over the last quarter.

American Century Companies holds 6,009K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 5,209K shares, representing an increase of 13.31%. The firm increased its portfolio allocation in CHX by 4.10% over the last quarter.

Massachusetts Financial Services holds 5,148K shares representing 2.60% ownership of the company. In it's prior filing, the firm reported owning 5,117K shares, representing an increase of 0.60%. The firm decreased its portfolio allocation in CHX by 85.85% 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.

This story originally appeared on Fintel.