Cubist Systematic Strategies LLC Acquires Shares of 48,819 ChampionX Co. (NASDAQ:CHX)

Cubist Systematic Strategies LLC acquired a new position in ChampionX Co. (NASDAQ:CHX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 48,819 shares of the company's stock, valued at approximately $1,327,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of ChampionX by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 19,964,329 shares of the company's stock worth $542,830,000 after acquiring an additional 227,627 shares during the last quarter. Westchester Capital Management LLC boosted its stake in ChampionX by 14.7% during the fourth quarter. Westchester Capital Management LLC now owns 3,243,134 shares of the company's stock worth $88,181,000 after buying an additional 414,995 shares in the last quarter. Northern Trust Corp boosted its stake in ChampionX by 10.9% during the fourth quarter. Northern Trust Corp now owns 2,917,978 shares of the company's stock worth $79,340,000 after buying an additional 286,853 shares in the last quarter. AQR Arbitrage LLC boosted its stake in ChampionX by 7.4% during the fourth quarter. AQR Arbitrage LLC now owns 2,808,543 shares of the company's stock worth $75,859,000 after buying an additional 194,219 shares in the last quarter. Finally, Norges Bank acquired a new stake in ChampionX during the fourth quarter worth $74,032,000. Institutional investors and hedge funds own 98.99% of the company's stock.

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 research note on Monday, May 5th.

ChampionX Stock Performance

CHX traded down $0.02 during trading on Friday, reaching $25.98. 2,173,498 shares of the company's stock were exchanged, compared to its average volume of 2,663,240. ChampionX Co. has a fifty-two week low of $21.92 and a fifty-two week high of $35.94. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $26.40 and a 200 day moving average price of $28.19. The company has a market capitalization of $4.97 billion, a P/E ratio of 15.75 and a beta of 1.52.

ChampionX (NASDAQ:CHX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.09. The company 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 business's revenue was down 6.3% on a year-over-year basis. During the same period last year, the business earned $0.50 earnings per share. As a group, analysts predict that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.095 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.46%. ChampionX's payout ratio is presently 25.17%.

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.