ChampionX Co. (NASDAQ:CHX) Short Interest Down 39.1% in May

ChampionX Co. (NASDAQ:CHX - Get Free Report) saw a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 4,490,000 shares, a decrease of 39.1% from the April 30th total of 7,370,000 shares. Approximately 2.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,790,000 shares, the short-interest ratio is currently 0.9 days.

Hedge Funds Weigh In On ChampionX

Several hedge funds have recently bought and sold shares of the business. Snowden Capital Advisors LLC boosted its stake in shares of ChampionX by 3.6% during the fourth quarter. Snowden Capital Advisors LLC now owns 12,199 shares of the company's stock valued at $332,000 after purchasing an additional 419 shares during the period. Arizona State Retirement System lifted its holdings in ChampionX by 0.8% during 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 in the last quarter. Pacer Advisors Inc. boosted its position in 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 buying an additional 532 shares during the period. Jones Financial Companies Lllp grew its stake in ChampionX by 153.2% in the 4th quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock worth $25,000 after acquiring an additional 559 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of ChampionX by 0.3% during the first quarter. Retirement Systems of Alabama now owns 232,227 shares of the company's stock worth $6,920,000 after acquiring an additional 595 shares during the period. Institutional investors own 98.99% of the company's stock.

Analysts Set New Price Targets

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

ChampionX Price Performance

CHX stock traded down $0.40 during trading on Wednesday, hitting $24.44. 2,707,050 shares of the company's stock traded hands, compared to its average volume of 4,132,562. ChampionX has a 52 week low of $21.92 and a 52 week high of $35.94. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 14.81 and a beta of 1.52. The business has a fifty day simple moving average of $25.21 and a 200 day simple moving average of $27.73. 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 (NASDAQ:CHX - Get Free Report) last announced its quarterly 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. The firm had revenue of $864.46 million during the quarter, compared to the consensus estimate of $900.59 million. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. The firm's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 EPS. As a group, research analysts expect that ChampionX will post 1.92 EPS for the current fiscal year.

ChampionX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.38 annualized dividend and a yield of 1.55%. ChampionX's payout ratio is 25.17%.

ChampionX Company 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.