ChampionX Co. (NASDAQ:CHX) Shares Bought by Bank of America Corp DE

Bank of America Corp DE increased its stake in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,289,608 shares of the company's stock after buying an additional 100,562 shares during the quarter. Bank of America Corp DE owned about 1.20% of ChampionX worth $62,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bardin Hill Management Partners LP purchased a new position in ChampionX during the fourth quarter worth about $4,239,000. BNP Paribas Financial Markets acquired a new stake in ChampionX in the fourth quarter valued at $1,502,000. Ameriprise Financial Inc. increased its position in ChampionX by 10.9% during the fourth quarter. Ameriprise Financial Inc. now owns 221,340 shares of the company's stock worth $6,018,000 after buying an additional 21,747 shares in the last quarter. AQR Arbitrage LLC boosted its stake in shares of ChampionX by 7.4% during the fourth quarter. AQR Arbitrage LLC now owns 2,808,543 shares of the company's stock valued at $75,859,000 after acquiring an additional 194,219 shares during the last quarter. Finally, Nexpoint Asset Management L.P. increased its position in ChampionX by 0.8% during the 4th quarter. Nexpoint Asset Management L.P. now owns 567,461 shares of the company's stock worth $15,429,000 after purchasing an additional 4,718 shares in the last quarter. 98.99% of the stock is owned by hedge funds and other institutional investors.

ChampionX Stock Down 0.1%

NASDAQ:CHX traded down $0.02 during trading hours on Friday, hitting $25.98. The stock had a trading volume of 2,173,498 shares, compared to its average volume of 2,659,109. The company has a market cap of $4.97 billion, a PE ratio of 15.75 and a beta of 1.52. The business has a 50 day simple moving average of $26.45 and a two-hundred day simple moving average of $28.20. ChampionX Co. has a 1-year low of $21.92 and a 1-year 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.

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

ChampionX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a $0.095 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $0.38 annualized dividend and a dividend yield of 1.46%. ChampionX's payout ratio is currently 25.17%.

Analysts Set New Price Targets

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

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.