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ChampionX Corp

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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation

Seasonal Impacts Should Abate Later in 2024; SLB Deal Remains a Good Outcome for ChampionX

Business Strategy and Outlook

ChampionX is a diversified oilfield-services firm providing specialty chemicals solutions and artificial lift services for oil and gas development and production. It also manufactures polycrystalline diamond cutter inserts for drilling and mining rigs. About two thirds of ChampionX’s overall business involves specialty chemicals. The firm is one of the largest specialty chemicals providers in oilfield services: ChampionX and Baker Hughes together control roughly half of the global market.

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