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

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHX. Jones Financial Companies Lllp lifted its holdings in shares of ChampionX by 153.2% during the 4th 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. lifted its holdings in shares of ChampionX by 45.5% during the 1st quarter. UMB Bank n.a. now owns 3,097 shares of the company's stock valued at $92,000 after purchasing an additional 969 shares in the last quarter. Vestcor Inc lifted its holdings in shares of ChampionX by 71.6% during the 4th quarter. Vestcor Inc now owns 5,032 shares of the company's stock valued at $137,000 after purchasing an additional 2,100 shares in the last quarter. Parallel Advisors LLC raised its position in ChampionX by 27.5% in the 1st quarter. Parallel Advisors LLC now owns 4,672 shares of the company's stock valued at $139,000 after buying an additional 1,007 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in ChampionX by 82,557.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company's stock valued at $157,000 after buying an additional 5,779 shares during the last quarter. Institutional investors own 98.99% of the company's stock.

Wall Street Analyst Weigh In

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

ChampionX Stock Down 2.0%

Shares of ChampionX stock opened at $25.63 on Tuesday. The business's 50 day simple moving average is $25.25 and its 200 day simple moving average is $27.06. ChampionX Corporation has a 52-week low of $21.92 and a 52-week high of $35.94. The firm has a market cap of $4.91 billion, a PE ratio of 16.97, a P/E/G ratio of 5.11 and a beta of 1.49. 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 posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.09. The firm had revenue of $864.46 million for the quarter, compared to analyst estimates of $900.59 million. ChampionX had a return on equity of 19.25% and a net margin of 8.20%. The business's quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 EPS. On average, analysts predict that ChampionX Corporation will post 1.92 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The firm also recently announced 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. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Thursday, July 3rd. 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.

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