Adage Capital Partners GP L.L.C. Acquires 844,301 Shares of ChampionX Co. (NASDAQ:CHX)

Adage Capital Partners GP L.L.C. lifted its stake in ChampionX Co. (NASDAQ:CHX - Free Report) by 135.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,467,451 shares of the company's stock after buying an additional 844,301 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.77% of ChampionX worth $39,900,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of ChampionX by 5.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 170,018 shares of the company's stock worth $4,624,000 after buying an additional 9,529 shares in the last quarter. Pinebridge Investments L.P. lifted its position in shares of ChampionX by 43.0% in the fourth quarter. Pinebridge Investments L.P. now owns 65,302 shares of the company's stock worth $1,776,000 after buying an additional 19,647 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in ChampionX by 219.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 24,349 shares of the company's stock valued at $662,000 after buying an additional 16,726 shares during the last quarter. MetLife Investment Management LLC grew its holdings in ChampionX by 8.2% during the 4th quarter. MetLife Investment Management LLC now owns 219,821 shares of the company's stock valued at $5,977,000 after buying an additional 16,643 shares in the last quarter. Finally, First Trust Advisors LP purchased a new position in ChampionX during the 4th quarter valued at approximately $241,000. 98.99% of the stock is currently owned by institutional investors.

ChampionX Price Performance

CHX traded down $0.94 during trading hours on Wednesday, hitting $23.73. The company's stock had a trading volume of 778,291 shares, compared to its average volume of 2,560,224. ChampionX Co. has a 12 month low of $21.92 and a 12 month high of $35.94. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32. The business's 50-day moving average price is $27.39 and its 200-day moving average price is $28.61. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 14.38 and a beta of 1.81.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.09. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. The company had revenue of $864.46 million for the quarter, compared to analyst estimates of $900.59 million. During the same quarter in the prior year, the firm posted $0.50 EPS. ChampionX's quarterly revenue was down 6.3% compared to the same quarter last year. Sell-side analysts expect that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 4th were issued a dividend of $0.095 per share. The ex-dividend date was Friday, April 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.60%. ChampionX's payout ratio is 23.03%.

About ChampionX

ChampionX Corporation provides chemistry solutions, artificial lift systems, and engineered equipment and technologies to oil and gas companies worldwide. The company operates through four segments: Production Chemical Technologies, Production & Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies.