Pekin Hardy Strauss Inc. Has $1.05 Million Stake in ChampionX Corporation (NASDAQ:CHX)

Pekin Hardy Strauss Inc. lessened its stake in ChampionX Corporation (NASDAQ:CHX - Free Report) by 47.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,133 shares of the company's stock after selling 32,311 shares during the period. Pekin Hardy Strauss Inc.'s holdings in ChampionX were worth $1,047,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its holdings in ChampionX by 153.2% in the 4th quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock valued at $25,000 after acquiring an additional 559 shares during the last quarter. UMB Bank n.a. lifted its holdings in ChampionX by 45.5% in the 1st quarter. UMB Bank n.a. now owns 3,097 shares of the company's stock valued at $92,000 after acquiring an additional 969 shares during the last quarter. Vestcor Inc lifted its holdings in ChampionX by 71.6% in the 4th quarter. Vestcor Inc now owns 5,032 shares of the company's stock valued at $137,000 after acquiring an additional 2,100 shares during the last quarter. Parallel Advisors LLC lifted its holdings in ChampionX by 27.5% in the 1st quarter. Parallel Advisors LLC now owns 4,672 shares of the company's stock valued at $139,000 after acquiring an additional 1,007 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in ChampionX by 82,557.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company's stock valued at $157,000 after acquiring an additional 5,779 shares during the last quarter. Institutional investors own 98.99% of the company's stock.

Analyst Ratings Changes

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

ChampionX Trading Up 1.7%

CHX stock traded up $0.46 during mid-day trading on Friday, reaching $27.38. 3,358,265 shares of the stock traded hands, compared to its average volume of 2,834,867. The company has a current ratio of 2.25, a quick ratio of 1.62 and a debt-to-equity ratio of 0.31. ChampionX Corporation has a 52-week low of $21.92 and a 52-week high of $35.94. The company has a market cap of $5.24 billion, a P/E ratio of 18.13, a P/E/G ratio of 5.26 and a beta of 1.49. The stock's fifty day moving average is $25.43 and its 200-day moving average is $27.06.

ChampionX (NASDAQ:CHX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $900.59 million. During the same period in the prior year, the firm earned $0.50 earnings per share. The business's quarterly revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts expect that ChampionX Corporation will post 1.92 earnings per share for the current year.

ChampionX Dividend Announcement

The firm 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 is Thursday, July 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.39%. ChampionX's dividend payout ratio is 25.17%.

About ChampionX

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.