10 High Growth Energy Stocks To Invest In

5. ChampionX Corporation (NASDAQ:CHX)

5-Year Revenue CAGR: 25.10%

Number of Hedge Fund Holders: 40

ChampionX Corporation (NASDAQ:CHX) is a global energy solutions company that provides technologies, equipment, and chemistry solutions to help oil and gas companies produce and drill for oil and gas in a safe, efficient, and sustainable way. The company offers a range of products, including chemical technologies, artificial lift systems, drilling technologies, and digital monitoring solutions. ChampionX Corporation (NASDAQ:CHX) is one of the top high-growth stocks in the energy sector.

In July 2024, the corporation made a strategic move by acquiring RMSpumptools Limited, a company known for its advanced mechanical and electrical solutions for artificial lift applications. This acquisition strengthens ChampionX Corporation’s (NASDAQ:CHX) Production & Automation Technologies (PAT) portfolio and opens up growth opportunities in international markets like the Middle East and Latin America.

In the third quarter of 2024, ChampionX Corporation (NASDAQ:CHX) reported revenues of $907 million, reflecting a 4% year-over-year decrease mainly due to lower sales in Mexico. However, revenue from other regions increased by 6%, indicating strong performance in North America and international markets. The company achieved a net income of $72 million and an adjusted EBITDA margin of 21.8%, showcasing its focus on productivity and profitability.

ChampionX Corporation (NASDAQ:CHX) also secured significant contracts in the Asia Pacific region, including providing engineering services for a new Floating Production Storage and Offloading (FPSO) unit at a large gas condensate field in Australasia. This project is set to enhance regional liquefied natural gas production starting in the first half of 2025. With its innovative solutions, strategic acquisitions, and strong performance, ChampionX Corporation (NASDAQ:CHX) presents a compelling investment opportunity in the energy sector.