Wellington Management Group LLP Has $20.92 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Wellington Management Group LLP increased its holdings in ChampionX Co. (NASDAQ:CHX - Free Report) by 80.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 769,436 shares of the company's stock after acquiring an additional 344,149 shares during the quarter. Wellington Management Group LLP owned about 0.40% of ChampionX worth $20,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in CHX. Jones Financial Companies Lllp lifted its holdings in shares of ChampionX by 153.2% in the 4th 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. Venturi Wealth Management LLC boosted its position in shares of ChampionX by 1,051.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company's stock worth $51,000 after purchasing an additional 1,725 shares in the last quarter. Vestcor Inc lifted its position in ChampionX by 71.6% during the 4th 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 period. Brown Brothers Harriman & Co. raised its holdings in shares of ChampionX by 82,557.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company's stock worth $157,000 after purchasing an additional 5,779 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of ChampionX during the 4th quarter valued at approximately $205,000. 98.99% of the stock is owned by institutional investors.

ChampionX Stock Down 1.6%

Shares of CHX stock traded down $0.40 on Wednesday, hitting $24.44. The stock had a trading volume of 2,707,050 shares, compared to its average volume of 2,755,556. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 14.81 and a beta of 1.51. ChampionX Co. has a 52-week low of $21.92 and a 52-week high of $35.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99. The stock's 50 day moving average is $25.10 and its 200-day moving average is $27.70.

ChampionX (NASDAQ:CHX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.09. The firm had revenue of $864.46 million for the quarter, compared to the consensus estimate of $900.59 million. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. ChampionX's quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.50 EPS. As a group, research analysts expect that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Thursday, July 3rd. ChampionX's payout ratio is 25.17%.

Analyst Ratings Changes

Separately, Stifel Nicolaus increased 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.

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.