Short Interest in ChampionX Co. (NASDAQ:CHX) Declines By 39.1%

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

Wall Street Analysts Forecast Growth

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

ChampionX Trading Up 0.8%

CHX stock traded up $0.19 during trading on Monday, reaching $24.26. 5,007,576 shares of the stock were exchanged, compared to its average volume of 2,740,842. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $25.32 and a 200-day moving average price of $27.75. ChampionX has a 1 year low of $21.92 and a 1 year high of $35.94. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 14.70 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, topping 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 company had revenue of $864.46 million for the quarter, compared to the consensus estimate of $900.59 million. During the same period in the previous year, the firm earned $0.50 earnings per share. ChampionX's quarterly revenue was down 6.3% compared to the same quarter last year. On average, research analysts predict that ChampionX will post 1.92 earnings per share for the current year.

ChampionX Announces Dividend

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 dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, July 3rd. ChampionX's dividend payout ratio (DPR) is currently 25.17%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CHX. Jones Financial Companies Lllp lifted its stake in ChampionX by 153.2% in the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock worth $25,000 after acquiring an additional 559 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in ChampionX by 408.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,683 shares of the company's stock worth $50,000 after acquiring an additional 1,352 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in ChampionX by 66.9% in the first quarter. Smartleaf Asset Management LLC now owns 1,868 shares of the company's stock worth $56,000 after acquiring an additional 749 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in ChampionX by 1,051.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company's stock worth $51,000 after acquiring an additional 1,725 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in ChampionX by 51.6% in the first quarter. Signaturefd LLC now owns 2,321 shares of the company's stock worth $69,000 after acquiring an additional 790 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company's stock.

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.