Pekin Hardy Strauss Inc. Sells 32,311 Shares of ChampionX Corporation (NASDAQ:CHX)

Pekin Hardy Strauss Inc. cut its holdings in shares of ChampionX Corporation (NASDAQ:CHX - Free Report) by 47.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new stake in ChampionX during the 1st quarter worth approximately $1,528,000. Highland Capital Management LLC bought a new position in shares of ChampionX during the 1st quarter worth approximately $292,000. Copeland Capital Management LLC grew its stake in shares of ChampionX by 8.4% during the 1st quarter. Copeland Capital Management LLC now owns 918,114 shares of the company's stock worth $27,360,000 after acquiring an additional 70,912 shares in the last quarter. Retirement Systems of Alabama grew its stake in shares of ChampionX by 0.3% in the first quarter. Retirement Systems of Alabama now owns 232,227 shares of the company's stock valued at $6,920,000 after buying an additional 595 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of ChampionX by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 22,323 shares of the company's stock valued at $665,000 after buying an additional 600 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

ChampionX Stock Performance

Shares of NASDAQ CHX traded down $0.23 during mid-day trading on Wednesday, reaching $26.62. 1,624,860 shares of the company were exchanged, compared to its average volume of 2,820,974. The company's 50-day simple moving average is $25.29 and its 200-day simple moving average is $27.06. The company has a quick ratio of 1.62, a current ratio of 2.25 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $5.10 billion, a P/E ratio of 17.63, a P/E/G ratio of 5.24 and a beta of 1.49. ChampionX Corporation has a twelve month low of $21.92 and a twelve month high of $35.94.

ChampionX (NASDAQ:CHX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.09. The firm had revenue of $864.46 million for the quarter, compared to analysts' expectations of $900.59 million. ChampionX had a return on equity of 19.25% and a net margin of 8.20%. The company's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS. As a group, research analysts predict that ChampionX Corporation will post 1.92 earnings per share for the current year.

ChampionX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.43%. 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.