ChampionX Co. (NASDAQ:CHX) Shares Sold by DeepCurrents Investment Group LLC

DeepCurrents Investment Group LLC trimmed its position in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 41.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,836 shares of the company's stock after selling 27,507 shares during the quarter. DeepCurrents Investment Group LLC's holdings in ChampionX were worth $1,056,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new position in shares of ChampionX during the 4th quarter worth approximately $1,327,000. Bridgefront Capital LLC acquired a new position in ChampionX during the fourth quarter worth $802,000. Caxton Associates LP purchased a new stake in ChampionX in the 4th quarter valued at $8,190,000. Balyasny Asset Management L.P. acquired a new stake in shares of ChampionX in the 4th quarter worth $9,294,000. Finally, Bank of America Corp DE raised its holdings in shares of ChampionX by 4.6% during the 4th quarter. Bank of America Corp DE now owns 2,289,608 shares of the company's stock worth $62,254,000 after acquiring an additional 100,562 shares during the period. 98.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Stifel Nicolaus upped their price objective on shares of ChampionX from $39.00 to $40.00 and gave the company a "buy" rating in a report on Monday.

ChampionX Trading Down 0.8 %

CHX opened at $24.36 on Wednesday. The stock has a market capitalization of $4.66 billion, a PE ratio of 14.76 and a beta of 1.52. ChampionX Co. has a one year low of $21.92 and a one year high of $35.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99. The business's 50 day moving average price is $26.91 and its 200 day moving average price is $28.38.

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, topping analysts' consensus estimates of $0.41 by $0.09. The business had revenue of $864.46 million during the quarter, compared to analysts' expectations of $900.59 million. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. The company's revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 EPS. As a group, equities research analysts expect that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 4th were paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Friday, April 4th. ChampionX's dividend payout ratio (DPR) is 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.

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