ChampionX Co. (NASDAQ:CHX) Shares Sold by Lazard Asset Management LLC

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

Other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in ChampionX by 123.7% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 246,152 shares of the company's stock valued at $6,693,000 after purchasing an additional 136,132 shares in the last quarter. Van ECK Associates Corp lifted its holdings in ChampionX by 0.3% during the fourth quarter. Van ECK Associates Corp now owns 2,639,352 shares of the company's stock valued at $71,764,000 after purchasing an additional 9,056 shares in the last quarter. Schroder Investment Management Group purchased a new position in ChampionX during the fourth quarter valued at $472,000. Yakira Capital Management Inc. lifted its holdings in ChampionX by 29.9% during the fourth quarter. Yakira Capital Management Inc. now owns 218,290 shares of the company's stock valued at $5,935,000 after purchasing an additional 50,300 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of ChampionX in the fourth quarter valued at about $12,080,000. 98.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus increased 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 Price Performance

Shares of NASDAQ CHX traded up $0.05 during mid-day trading on Thursday, reaching $24.50. The company's stock had a trading volume of 308,074 shares, compared to its average volume of 2,708,041. The stock has a 50-day moving average of $25.67 and a two-hundred day moving average of $27.93. The stock has a market capitalization of $4.69 billion, a P/E ratio of 14.84 and a beta of 1.52. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99. ChampionX Co. has a 1-year low of $21.92 and a 1-year high of $35.94.

ChampionX (NASDAQ:CHX - Get Free Report) last released 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 net margin of 8.81% and a return on equity of 19.84%. The firm had revenue of $864.46 million during the quarter, compared to analysts' expectations of $900.59 million. During the same period last year, the business earned $0.50 earnings per share. ChampionX's revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Announces Dividend

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 dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, July 3rd. ChampionX's payout ratio is currently 25.17%.

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.