Bridgefront Capital LLC Takes $802,000 Position in ChampionX Co. (NASDAQ:CHX)

Bridgefront Capital LLC bought a new position in shares of ChampionX Co. (NASDAQ:CHX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 29,501 shares of the company's stock, valued at approximately $802,000.

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

ChampionX Stock Performance

Shares of ChampionX stock traded up $0.14 on Friday, reaching $25.10. 989,105 shares of the company were exchanged, compared to its average volume of 2,648,042. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 15.21 and a beta of 1.52. The company's 50-day moving average is $26.68 and its two-hundred day moving average is $28.28. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99. ChampionX Co. has a 1-year low of $21.92 and a 1-year high of $35.94.

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

ChampionX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, July 3rd. ChampionX's dividend payout ratio (DPR) is 25.17%.

Analyst Ratings Changes

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

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.