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

Pekin Hardy Strauss Inc. trimmed its stake in ChampionX Corporation (NASDAQ:CHX - Free Report) by 47.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in ChampionX by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 19,964,329 shares of the company's stock worth $542,830,000 after acquiring an additional 227,627 shares in the last quarter. Westchester Capital Management LLC boosted its stake in ChampionX by 14.7% in the 4th quarter. Westchester Capital Management LLC now owns 3,243,134 shares of the company's stock worth $88,181,000 after purchasing an additional 414,995 shares during the period. Northern Trust Corp boosted its stake in ChampionX by 10.9% in the 4th quarter. Northern Trust Corp now owns 2,917,978 shares of the company's stock worth $79,340,000 after purchasing an additional 286,853 shares during the period. AQR Arbitrage LLC boosted its stake in ChampionX by 7.4% in the 4th quarter. AQR Arbitrage LLC now owns 2,808,543 shares of the company's stock worth $75,859,000 after purchasing an additional 194,219 shares during the period. Finally, Norges Bank bought a new position in ChampionX in the 4th quarter worth approximately $74,032,000. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

ChampionX Price Performance

Shares of NASDAQ CHX traded up $0.26 during midday trading on Thursday, reaching $26.88. 1,289,663 shares of the stock traded hands, compared to its average volume of 2,815,214. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.25 and a quick ratio of 1.62. The stock has a market capitalization of $5.14 billion, a PE ratio of 17.81, a P/E/G ratio of 5.24 and a beta of 1.49. ChampionX Corporation has a one year low of $21.92 and a one year high of $35.94. The company's 50 day moving average is $25.34 and its 200 day moving average is $27.05.

ChampionX (NASDAQ:CHX - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.09. The firm had revenue of $864.46 million during the quarter, compared to the consensus estimate 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 period in the prior year, the company earned $0.50 EPS. On average, equities research analysts anticipate that ChampionX Corporation will post 1.92 earnings per share for the current year.

ChampionX Dividend Announcement

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. The ex-dividend date is Thursday, July 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.41%. ChampionX's dividend payout ratio is presently 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.