ChampionX Co. (NASDAQ:CHX) Stake Raised by ProShare Advisors LLC

ProShare Advisors LLC boosted its holdings in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 37.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,365 shares of the company's stock after purchasing an additional 18,898 shares during the quarter. ProShare Advisors LLC's holdings in ChampionX were worth $1,886,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CHX. Norges Bank acquired a new stake in shares of ChampionX during the 4th quarter valued at approximately $74,032,000. Calamos Advisors LLC boosted its stake in ChampionX by 470.4% in the fourth quarter. Calamos Advisors LLC now owns 1,494,500 shares of the company's stock valued at $40,635,000 after acquiring an additional 1,232,500 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in shares of ChampionX by 135.5% during the fourth 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 purchasing an additional 844,301 shares during the last quarter. Hudson Bay Capital Management LP raised its position in shares of ChampionX by 186.2% during the 4th quarter. Hudson Bay Capital Management LP now owns 964,420 shares of the company's stock worth $26,223,000 after purchasing an additional 627,426 shares during the period. Finally, Birnam Oak Advisors LP acquired a new stake in shares of ChampionX during the 4th quarter worth approximately $17,037,000. 98.99% of the stock is owned by institutional investors and hedge funds.

ChampionX Stock Performance

NASDAQ CHX traded down $0.02 on Monday, hitting $24.48. The stock had a trading volume of 3,558,468 shares, compared to its average volume of 2,712,307. The company's 50-day moving average is $25.97 and its two-hundred day moving average is $28.03. ChampionX Co. has a one year low of $21.92 and a one year high of $35.94. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 14.84 and a beta of 1.52. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32.

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

ChampionX Announces Dividend

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

Analysts Set New Price Targets

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

ChampionX 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.