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

Congress Asset Management Co. reduced its position in ChampionX Co. (NASDAQ:CHX - Free Report) by 95.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,776 shares of the company's stock after selling 255,481 shares during the period. Congress Asset Management Co.'s holdings in ChampionX were worth $381,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of ChampionX by 123.7% in 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 purchasing an additional 136,132 shares during the last quarter. Van ECK Associates Corp increased its holdings in ChampionX by 0.3% in the fourth quarter. Van ECK Associates Corp now owns 2,639,352 shares of the company's stock valued at $71,764,000 after buying an additional 9,056 shares during the last quarter. Schroder Investment Management Group bought a new stake in ChampionX in the fourth quarter valued at about $472,000. Yakira Capital Management Inc. raised its stake 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 buying an additional 50,300 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in ChampionX during the 4th quarter worth approximately $12,080,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus boosted 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.

ChampionX Stock Performance

CHX traded up $0.98 during trading on Tuesday, reaching $26.08. 2,335,691 shares of the company were exchanged, compared to its average volume of 4,068,392. ChampionX Co. has a 52 week low of $21.92 and a 52 week high of $35.94. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $24.79 and a 200 day moving average of $27.53. The stock has a market cap of $4.99 billion, a P/E ratio of 15.81 and a beta of 1.51.

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. On average, sell-side analysts forecast that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.095 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.46%. ChampionX's dividend payout ratio (DPR) is presently 25.17%.

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.