Bank of New York Mellon Corp Decreases Stock Holdings in ChampionX Corporation (NASDAQ:CHX)

Bank of New York Mellon Corp trimmed its stake in shares of ChampionX Corporation (NASDAQ:CHX - Free Report) by 0.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,851,789 shares of the company's stock after selling 10,998 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.97% of ChampionX worth $55,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of ChampionX by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 19,964,329 shares of the company's stock valued at $542,830,000 after acquiring an additional 227,627 shares in the last quarter. Westchester Capital Management LLC increased its position in ChampionX by 14.7% during the 4th quarter. Westchester Capital Management LLC now owns 3,243,134 shares of the company's stock valued at $88,181,000 after purchasing an additional 414,995 shares during the period. Northern Trust Corp raised its holdings in ChampionX by 10.9% in the 4th quarter. Northern Trust Corp now owns 2,917,978 shares of the company's stock worth $79,340,000 after purchasing an additional 286,853 shares in the last quarter. AQR Arbitrage LLC lifted its holdings in ChampionX by 7.4% in 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 during the period. Finally, Norges Bank purchased a new position in shares of ChampionX during the 4th quarter worth approximately $74,032,000. 98.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

ChampionX Price Performance

Shares of CHX stock traded down $0.08 during trading hours on Wednesday, hitting $26.53. The stock had a trading volume of 7,413,200 shares, compared to its average volume of 2,854,511. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.25 and a quick ratio of 1.62. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 5.20 and a beta of 1.49. ChampionX Corporation has a one year low of $21.92 and a one year high of $35.94. The stock's 50-day moving average price is $25.50 and its two-hundred day moving average price is $27.06.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings results 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. ChampionX had a net margin of 8.20% and a return on equity of 19.25%. The company had revenue of $864.46 million for the quarter, compared to the consensus estimate of $900.59 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. ChampionX's revenue was down 6.3% on a year-over-year basis. Equities 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 given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Thursday, July 3rd. ChampionX's dividend payout ratio (DPR) is currently 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.