34,058 Shares in ChampionX Corporation (NASDAQ:CHX) Acquired by SG Americas Securities LLC

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

A number of other institutional investors have also added to or reduced their stakes in CHX. Norges Bank purchased a new stake in shares of ChampionX in the 4th quarter valued at about $74,032,000. Adage Capital Partners GP L.L.C. raised its holdings in shares of ChampionX by 135.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,467,451 shares of the company's stock valued at $39,900,000 after acquiring an additional 844,301 shares in the last quarter. Hudson Bay Capital Management LP raised its holdings in shares of ChampionX by 186.2% in the 4th quarter. Hudson Bay Capital Management LP now owns 964,420 shares of the company's stock valued at $26,223,000 after acquiring an additional 627,426 shares in the last quarter. Birnam Oak Advisors LP purchased a new stake in shares of ChampionX in the 4th quarter valued at about $17,037,000. Finally, Alpine Associates Management Inc. raised its holdings in shares of ChampionX by 63.5% in the 4th quarter. Alpine Associates Management Inc. now owns 1,182,716 shares of the company's stock valued at $32,158,000 after acquiring an additional 459,200 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company's stock.

Analysts Set New Price Targets

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

ChampionX Price Performance

Shares of NASDAQ CHX traded down $0.02 during trading hours on Friday, reaching $26.31. 6,467,719 shares of the stock traded hands, compared to its average volume of 2,771,003. The company has a market capitalization of $5.04 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 5.14 and a beta of 1.51. The company has a quick ratio of 1.62, a current ratio of 2.25 and a debt-to-equity ratio of 0.31. ChampionX Corporation has a 52-week low of $21.92 and a 52-week high of $35.94. The company's 50-day simple moving average is $25.15 and its two-hundred day simple moving average is $27.28.

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

ChampionX Announces Dividend

The company 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 dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.44%. ChampionX's dividend 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.