12 High Growth Low PE Stocks to Buy

6. ChampionX Corporation (NASDAQ:CHX)

5-Year Revenue CAGR: 25.10%

Number of Hedge Fund Holders: 40

Forward P/E as of January 29: 13.77

ChampionX Corporation (NASDAQ:CHX) provides chemistry solutions, artificial lift systems, and engineered equipment and technologies to oil and gas companies worldwide. It is one of the stocks that have been on a roll in the aftermath of President Donald Trump announcing plans to enhance oil and gas production. The policy change is expected to fuel demand for the company’s oil and equipment services, which affirms why it is one of the growing low PE stocks to buy.

ChampionX Corporation (NASDAQ:CHX) has already strengthened its arsenal of oil and gas equipment with the acquisition of RMSpumptools Limited. With the acquisition, it gains access to an arsenal of advanced mechanical and electrical solutions for artificial lift applications. This acquisition should open up growth opportunities for the company in the international markets of the Middle East and Latin America.

For the third quarter that ended, ChampionX Corporation’s (NASDAQ:CHX) total revenue stood at $906.53 million, as the Production & Automation Technologies segment reported revenue of $275.70 million, indicating a 7.6% growth from the prior-year period. Its gross profit increased 2% year-over-year to $297.77 million. The impressive results underscore underlying growth expected to continue as the new US administration pushes for more drilling.