Brown Advisory Inc. Sells 93,246 Shares of ChampionX Corporation (NASDAQ:CHX)

Brown Advisory Inc. trimmed its stake in ChampionX Corporation (NASDAQ:CHX - Free Report) by 1.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,693,158 shares of the company's stock after selling 93,246 shares during the period. Brown Advisory Inc. owned about 2.46% of ChampionX worth $139,856,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its holdings in shares of ChampionX by 153.2% in the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock valued at $25,000 after purchasing an additional 559 shares in the last quarter. UMB Bank n.a. increased its stake in shares of ChampionX by 45.5% in the 1st quarter. UMB Bank n.a. now owns 3,097 shares of the company's stock valued at $92,000 after buying an additional 969 shares during the period. Vestcor Inc raised its position in shares of ChampionX by 71.6% during the fourth quarter. Vestcor Inc now owns 5,032 shares of the company's stock worth $137,000 after acquiring an additional 2,100 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of ChampionX by 27.5% during the first quarter. Parallel Advisors LLC now owns 4,672 shares of the company's stock valued at $139,000 after acquiring an additional 1,007 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its holdings in ChampionX by 82,557.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company's stock valued at $157,000 after acquiring an additional 5,779 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.

ChampionX Trading Up 1.7%

NASDAQ:CHX traded up $0.46 during mid-day trading on Friday, hitting $27.38. The company had a trading volume of 3,358,265 shares, compared to its average volume of 2,834,867. 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 Corporation has a fifty-two week low of $21.92 and a fifty-two week high of $35.94. The firm has a market cap of $5.24 billion, a P/E ratio of 18.13, a P/E/G ratio of 5.26 and a beta of 1.49. The business's fifty day moving average is $25.43 and its two-hundred day moving average is $27.06.

ChampionX (NASDAQ:CHX - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $864.46 million for the quarter, compared to the consensus estimate of $900.59 million. ChampionX had a net margin of 8.20% and a return on equity of 19.25%. ChampionX's revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS. As a group, research analysts expect that ChampionX Corporation will post 1.92 earnings per share for the current year.

ChampionX Dividend Announcement

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 dividend yield of 1.39%. The ex-dividend date is Thursday, July 3rd. ChampionX's dividend payout ratio is currently 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.

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.