Lazard Asset Management LLC Has $95,000 Holdings in ChampionX Co. (NASDAQ:CHX)

Lazard Asset Management LLC lessened its stake in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 86.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,494 shares of the company's stock after selling 22,755 shares during the quarter. Lazard Asset Management LLC's holdings in ChampionX were worth $95,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in ChampionX during the 4th quarter valued at approximately $74,032,000. Calamos Advisors LLC boosted its stake in ChampionX by 470.4% during the 4th quarter. Calamos Advisors LLC now owns 1,494,500 shares of the company's stock valued at $40,635,000 after purchasing an additional 1,232,500 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in ChampionX by 135.5% during the 4th 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 period. Hudson Bay Capital Management LP boosted its stake in ChampionX by 186.2% during the 4th quarter. Hudson Bay Capital Management LP now owns 964,420 shares of the company's stock valued at $26,223,000 after purchasing an additional 627,426 shares during the period. Finally, Birnam Oak Advisors LP bought a new stake in ChampionX during the 4th quarter valued at approximately $17,037,000. Institutional investors own 98.99% of the company's stock.

ChampionX Stock Performance

Shares of CHX stock traded up $0.24 during mid-day trading on Tuesday, reaching $24.72. The stock had a trading volume of 2,685,853 shares, compared to its average volume of 2,712,201. The firm's 50 day simple moving average is $25.87 and its 200 day simple moving average is $27.98. 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 Co. has a one year low of $21.92 and a one year high of $35.94. The firm has a market cap of $4.73 billion, a PE ratio of 14.98 and a beta of 1.52.

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

ChampionX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued a $0.095 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.54%. ChampionX's payout ratio is presently 25.17%.

Analyst Ratings Changes

Separately, Stifel Nicolaus raised their price objective on ChampionX from $39.00 to $40.00 and gave the stock a "buy" rating in a research report 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.