Ameriprise Financial Inc. Buys 21,747 Shares of ChampionX Co. (NASDAQ:CHX)

Ameriprise Financial Inc. grew its position in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 10.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 221,340 shares of the company's stock after acquiring an additional 21,747 shares during the quarter. Ameriprise Financial Inc. owned 0.12% of ChampionX worth $6,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in ChampionX by 123.7% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 246,152 shares of the company's stock worth $6,693,000 after acquiring an additional 136,132 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of ChampionX by 0.3% during the 4th quarter. Van ECK Associates Corp now owns 2,639,352 shares of the company's stock worth $71,764,000 after purchasing an additional 9,056 shares during the period. Schroder Investment Management Group bought a new stake in shares of ChampionX during the 4th quarter worth $472,000. Yakira Capital Management Inc. raised its stake in shares of ChampionX by 29.9% during the 4th quarter. Yakira Capital Management Inc. now owns 218,290 shares of the company's stock worth $5,935,000 after purchasing an additional 50,300 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of ChampionX during the 4th quarter worth $12,080,000. 98.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

ChampionX Stock Performance

ChampionX stock traded up $0.13 during midday trading on Thursday, reaching $24.58. The stock had a trading volume of 1,720,000 shares, compared to its average volume of 2,718,986. ChampionX Co. has a 12 month low of $21.92 and a 12 month high of $35.94. The firm's 50-day moving average price is $25.56 and its 200 day moving average price is $27.89. The firm has a market capitalization of $4.71 billion, a PE ratio of 14.90 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 announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating 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 business had revenue of $864.46 million for the quarter, compared to analysts' expectations of $900.59 million. During the same period in the previous year, the business posted $0.50 EPS. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. As a group, research analysts predict that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

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 paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Thursday, July 3rd. ChampionX's dividend 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.