Copeland Capital Management LLC Purchases 70,912 Shares of ChampionX Corporation (NASDAQ:CHX)

Copeland Capital Management LLC increased its position in shares of ChampionX Corporation (NASDAQ:CHX - Free Report) by 8.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 918,114 shares of the company's stock after acquiring an additional 70,912 shares during the quarter. Copeland Capital Management LLC owned 0.48% of ChampionX worth $27,360,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CHX. Norges Bank acquired a new position in ChampionX in the 4th quarter valued at approximately $74,032,000. Adage Capital Partners GP L.L.C. increased its stake in ChampionX by 135.5% in 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 buying an additional 844,301 shares during the period. Hudson Bay Capital Management LP increased its stake in ChampionX by 186.2% in the 4th quarter. Hudson Bay Capital Management LP now owns 964,420 shares of the company's stock valued at $26,223,000 after buying an additional 627,426 shares during the period. Birnam Oak Advisors LP acquired a new position in ChampionX in the 4th quarter valued at approximately $17,037,000. Finally, Alpine Associates Management Inc. increased its stake in ChampionX by 63.5% in the 4th quarter. Alpine Associates Management Inc. now owns 1,182,716 shares of the company's stock valued at $32,158,000 after buying an additional 459,200 shares during the period. Institutional investors and hedge funds own 98.99% of the company's stock.

ChampionX Stock Up 0.4%

Shares of CHX traded up $0.10 during mid-day trading on Friday, hitting $24.96. 5,652,643 shares of the company's stock were exchanged, compared to its average volume of 2,799,977. The firm has a fifty day moving average of $25.14 and a two-hundred day moving average of $27.12. ChampionX Corporation has a twelve month low of $21.92 and a twelve month high of $35.94. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 4.88 and a beta of 1.51. The company has a quick ratio of 1.62, a current ratio of 2.25 and a debt-to-equity ratio of 0.31.

ChampionX (NASDAQ:CHX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.41 by $0.09. ChampionX had a net margin of 8.20% and a return on equity of 19.25%. The company had revenue of $864.46 million for the quarter, compared to analyst estimates of $900.59 million. During the same quarter in the prior year, the business posted $0.50 EPS. ChampionX's quarterly revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts forecast that ChampionX Corporation 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 dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.38 annualized dividend and a dividend yield of 1.52%. ChampionX's dividend payout ratio (DPR) is 25.17%.

Wall Street Analyst Weigh In

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

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.