CHX Price Prediction Next Week
Analysis and Insights
News Impact:
- Sale of US Synthetic: ChampionX announced the sale of its equity interests in US Synthetic to LongRange Capital, expected to support US Synthetic's growth.
- Legal Victory: US Synthetic successfully reversed a patent ruling, enhancing its competitive position.
- Flowco Holdings Performance: Despite a 3% decline since its IPO, analysts project significant revenue growth and strong margins.
Technical Indicators:
- RSI: 54.17 (neutral, not overbought/oversold).
- MACD: Slightly negative signal line crossover.
- Bollinger Bands: Price near lower band, suggesting undervaluation.
- Fibonacci Levels: Pivot at 28.80, resistance at 30.59, support at 27.01.
Price Action:
- Current Price: 30.02, up 1.21% on moderate volume.
- SMA: Above 20 and 60 SMA, indicating bullish momentum.
- Stochastic Oscillator: 32.19, oversold region, potential bounce.
Conclusion:
Based on the legal victory, sale of US Synthetic, and oversold technical indicators, CHX is expected to rise to $31.70 next week.
Prediction: Buy CHX with a target price of $31.70.
CHX Similar Chart Price Prediction
The price of CHX is predicted to go up -0.57%, based on the high correlation periods with SLB. The similarity of these two price pattern on the periods is 98.3%.
CHX
SLB
Down: -0.57%Similarity: 98.3%
CHX Revenue Forecast
CHX EPS Forecast
CHX FAQs
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CHX VS S&P500
Increased focus on production optimization will drive demand for specialty chemicals and artificial lift services, ChampionX's two core competencies.
ChampionX holds a strong position in the offshore specialty chemicals market, which will lead to profitable contracts amid elevated offshore production activity.
ChampionX greatly diversified its product portfolio through the addition of the chemical solutions business, which will increase potential customer touchpoints and foster stickier relationships over time.
CHX Analyst's Forecast
Scott Gruber
Citigroup
Strong Buy
2024-11-14
Price Target
$45 → $40
Upside
+29.53%
Citi lowered the firm's price target on ChampionX to $40 from $45 and keeps a Buy rating on the shares. The firm examined estimate achievability for the large oilfield service companies, seeing slight upside to 2025 EBITDA estimates for Baker Hughes (BKR) and TechnipFMC (FTI) given pricing improvements in backlog and internal initiatives to improve efficiency. The consensus for SLB (SLB) is "clouded by deals underway" and Weatherford (WFRD) bears more uncertainty given its exposure to Mexico and Saudi oil developments, the analyst tells investors in a research note. Citi is is 5% below consensus on Halliburton (HAL) and is furthest below consensus on NOV (NOV) at 9% given lower aftermarket sales and weaker Equipment margins.
