CHX Price Prediction Next Week
Analysis and Insights
To predict the stock price of ChampionX (CHX) for the next trading week, we analyze both news sentiment and technical indicators.
News Sentiment Analysis:
- ChampionX's Sale Announcement: The company is selling its equity interests in US Synthetic to LongRange Capital, with the CEO expressing confidence in the move to support US Synthetic's growth.
- Legal Victory: ChampionX's subsidiary, US Synthetic Corp., successfully reversed a ruling by the International Trade Commission regarding the eligibility of its patent claims for polycrystalline diamond cutters.
- Metals Tariffs Impact: Rising metals tariffs are expected to increase costs for oilfield equipment, which could impact ChampionX's margins.
Technical Analysis:
- Current Price: $29.64 (as of 2025-03-24)
- RSI: 58.67 (RSI_6), 54.07 (RSI_12), 53.48 (RSI_14) - Indicates the stock is not overbought.
- Stochastic Oscillator: %K (77.78) > %D (77.59) - Bullish signal.
- MACD: 0.09 (positive but weak signal).
- Fibonacci Levels:
- Resistance: 29.96, 30.41, 31.14
- Support: 28.51, 28.06, 27.34
- Pivot: 29.24
Price Prediction:
Based on the analysis, the stock is expected to reach $30.20 next week. The bullish signals from the Stochastic Oscillator and the positive news suggest upward momentum.
Recommendation:
Buy CHX as the technical indicators and positive news suggest a bullish trend.
CHX Revenue Forecast
CHX EPS Forecast
CHX FAQs
What is CHX revenue forecast for next quarter？
What is CHX eps forecast for next quarter？
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.
