AQR Arbitrage LLC Has $75.86 Million Stake in ChampionX Co. (NASDAQ:CHX)

AQR Arbitrage LLC grew its holdings in ChampionX Co. (NASDAQ:CHX - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,808,543 shares of the company's stock after acquiring an additional 194,219 shares during the quarter. ChampionX comprises 1.7% of AQR Arbitrage LLC's investment portfolio, making the stock its 6th biggest holding. AQR Arbitrage LLC owned about 1.47% of ChampionX worth $75,859,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CHX. Norges Bank acquired a new position in ChampionX in the fourth quarter valued at $74,032,000. Calamos Advisors LLC boosted its position in ChampionX by 470.4% during the fourth quarter. Calamos Advisors LLC now owns 1,494,500 shares of the company's stock worth $40,635,000 after purchasing an additional 1,232,500 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of ChampionX by 135.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,467,451 shares of the company's stock valued at $39,900,000 after purchasing an additional 844,301 shares in the last quarter. Birnam Oak Advisors LP purchased a new position in ChampionX during the fourth quarter worth $17,037,000. Finally, Oddo BHF Asset Management Sas acquired a new position in ChampionX in the 3rd quarter valued at about $15,075,000. Hedge funds and other institutional investors own 98.99% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus upped their target price on ChampionX from $39.00 to $40.00 and gave the company a "buy" rating in a research note on Monday.

ChampionX Trading Down 0.8 %

CHX stock traded down $0.21 during trading on Tuesday, reaching $24.34. 1,278,107 shares of the stock traded hands, compared to its average volume of 2,613,891. ChampionX Co. has a 52-week low of $21.92 and a 52-week high of $35.94. The business's 50 day moving average price is $27.01 and its 200-day moving average price is $28.41. 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 capitalization of $4.66 billion, a PE ratio of 14.78 and a beta of 1.52.

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

ChampionX Dividend Announcement

The business also recently announced 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 of this dividend was Friday, April 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.56%. ChampionX's payout ratio is currently 25.17%.

ChampionX Profile

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.