SG Americas Securities LLC Acquires New Stake in ChampionX Corporation (NASDAQ:CHX)

SG Americas Securities LLC purchased a new position in shares of ChampionX Corporation (NASDAQ:CHX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 34,058 shares of the company's stock, valued at approximately $1,015,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Snowden Capital Advisors LLC lifted its holdings in ChampionX by 3.6% during the 4th quarter. Snowden Capital Advisors LLC now owns 12,199 shares of the company's stock worth $332,000 after buying an additional 419 shares in the last quarter. Arizona State Retirement System raised its position in shares of ChampionX by 0.8% during the fourth quarter. Arizona State Retirement System now owns 55,268 shares of the company's stock worth $1,503,000 after acquiring an additional 436 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of ChampionX by 153.2% during 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. Hudson Edge Investment Partners Inc. lifted its stake in shares of ChampionX by 4.8% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 15,150 shares of the company's stock valued at $412,000 after acquiring an additional 700 shares during the period. Finally, Ethic Inc. boosted its holdings in ChampionX by 6.4% in the fourth quarter. Ethic Inc. now owns 13,938 shares of the company's stock valued at $379,000 after acquiring an additional 833 shares during the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

ChampionX Trading Down 0.7%

CHX traded down $0.18 during trading on Wednesday, reaching $26.33. 3,694,878 shares of the company's stock were exchanged, compared to its average volume of 2,767,994. The company's fifty day moving average price is $25.04 and its 200-day moving average price is $27.37. The firm has a market capitalization of $5.04 billion, a PE ratio of 17.44, a P/E/G ratio of 5.16 and a beta of 1.51. ChampionX Corporation has a fifty-two week low of $21.92 and a fifty-two week high of $35.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.62 and a current ratio of 2.25.

ChampionX (NASDAQ:CHX - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.09. ChampionX had a return on equity of 19.25% and a net margin of 8.20%. The firm had revenue of $864.46 million for the quarter, compared to analysts' expectations of $900.59 million. During the same quarter last year, the business earned $0.50 earnings per share. The company's revenue was down 6.3% compared to the same quarter last year. As a group, equities analysts forecast that ChampionX Corporation will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The firm also recently announced 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 of this dividend is Thursday, July 3rd. This represents a $0.38 annualized dividend and a yield of 1.44%. ChampionX's dividend payout ratio is presently 25.17%.

Wall Street Analyst Weigh In

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

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.