Balyasny Asset Management L.P. Makes New $9.29 Million Investment in ChampionX Co. (NASDAQ:CHX)

Balyasny Asset Management L.P. purchased a new position in shares of ChampionX Co. (NASDAQ:CHX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 341,812 shares of the company's stock, valued at approximately $9,294,000. Balyasny Asset Management L.P. owned approximately 0.18% of ChampionX at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Arizona State Retirement System boosted its holdings in shares of ChampionX by 0.8% in the 4th quarter. Arizona State Retirement System now owns 55,268 shares of the company's stock valued at $1,503,000 after buying an additional 436 shares during the period. Pacer Advisors Inc. boosted its stake in ChampionX by 1.9% in the fourth quarter. Pacer Advisors Inc. now owns 28,394 shares of the company's stock valued at $772,000 after acquiring an additional 532 shares during the period. Jones Financial Companies Lllp boosted its position in ChampionX by 153.2% during the 4th quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock valued at $25,000 after purchasing an additional 559 shares during the period. Hudson Edge Investment Partners Inc. boosted its position in ChampionX by 4.8% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 15,150 shares of the company's stock valued at $412,000 after purchasing an additional 700 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in ChampionX by 8.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,144 shares of the company's stock valued at $466,000 after purchasing an additional 1,265 shares during the period. Institutional investors and hedge funds own 98.99% of the company's stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus boosted their price target on shares of ChampionX from $39.00 to $40.00 and gave the company a "buy" rating in a report on Monday, May 5th.

ChampionX Trading Up 0.8%

ChampionX stock traded up $0.20 during midday trading on Tuesday, reaching $26.26. The stock had a trading volume of 1,873,358 shares, compared to its average volume of 2,649,006. The firm's fifty day simple moving average is $26.63 and its two-hundred day simple moving average is $28.25. ChampionX Co. has a twelve month low of $21.92 and a twelve month high of $35.94. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 15.92 and a beta of 1.52.

ChampionX (NASDAQ:CHX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.09. The firm had revenue of $864.46 million during the quarter, compared to analyst estimates of $900.59 million. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. The business's quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.50 EPS. Equities analysts anticipate that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.095 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.45%. ChampionX's dividend payout ratio is currently 25.17%.

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.