It's a cue from Championship Billiards (Subsidiary of D & R Industries of Lincolnwood, IL).
They mostly copied the styles of the higher-end pool cue designs of the day from those like Brunswick, Palmer, Adam Cue, etc. and made them as cheaply as possible for sale in general merchandise stores to light recreational pool players from as early as the 1960s through to as recent as 2002.
Your cue's model name is the Championship "Omega" cue. The Omega model was first seen in their 1979 catalog, and was also seen in their 1983 and 1986 catalogs (see image below).
In the 1986 catalog, the dealer-buy-price on this cue was $6.50 per cue in lots of 12 cues.
This particular cue was marketed as follows:
30-1149 - OMEGA
Nine piece cue. Adjustable weight, length, and balance. Nylon wrap, screw tip. Four weights, durable double brass joint.
They said "nine piece" because they counted the 4 weight rings as individual pieces. So 4 rings plus the 3 pieces of the cue plus 1 shaft, plus the screw-on-tip, equals nine pieces.
It's from their "Specialty & Multi-Purpose Two Piece Cues" line.
They were very low-end cues as @Type79 mentioned. It would be somewhere less than $20, etc. It is really only worth it's utility value. There is no collectible value to those cues, and they aren't great playing cues.
They would be in the ball-park of the cues you might find at K-Mart, Wal-Mart, etc. today.
Here's the image from the 1983 catalog: