- ChampionX is the result of the merger of Apergy with Ecolab's Upstream Energy business in mid-2020.
- While Ecolab's share price has fallen significantly, ChampionX share price has more than doubled post-merger.
- ChampionX business has performed well in its first full year of operation since the merger.
- However, buying at the high multiple reflected in the current share price will likely restrict returns to unsatisfactory levels.
- Volatility is a feature of the oil and gas business, and this translates to higher risk for both the business and the share price.
For further details see:
ChampionX: Good Performance, But Volatility Is An Issue