Chevy Chase Trust Holdings LLC Has $9.79 Million Position in ChampionX Corporation (NASDAQ:CHX)

Chevy Chase Trust Holdings LLC reduced its holdings in ChampionX Corporation (NASDAQ:CHX - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 328,639 shares of the company's stock after selling 33,583 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.17% of ChampionX worth $9,793,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHX. Vanguard Group Inc. lifted its stake in shares of ChampionX by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 19,964,329 shares of the company's stock valued at $542,830,000 after buying an additional 227,627 shares during the period. Westchester Capital Management LLC lifted its stake in shares of ChampionX by 14.7% in the fourth quarter. Westchester Capital Management LLC now owns 3,243,134 shares of the company's stock valued at $88,181,000 after buying an additional 414,995 shares during the period. Northern Trust Corp lifted its stake in shares of ChampionX by 10.9% in the fourth quarter. Northern Trust Corp now owns 2,917,978 shares of the company's stock valued at $79,340,000 after buying an additional 286,853 shares during the period. AQR Arbitrage LLC lifted its stake in ChampionX by 7.4% during the fourth 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 during the fourth quarter worth about $74,032,000. 98.99% of the stock is owned by institutional investors and hedge funds.

ChampionX Price Performance

Shares of NASDAQ:CHX traded up $0.10 during trading on Friday, reaching $24.96. The stock had a trading volume of 5,652,643 shares, compared to its average volume of 2,795,559. ChampionX Corporation has a 52 week low of $21.92 and a 52 week high of $35.94. The business's 50-day moving average price is $25.15 and its 200 day moving average price is $27.17. 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 $4.78 billion, a PE ratio of 16.53, a P/E/G ratio of 4.77 and a beta of 1.51.

ChampionX (NASDAQ:CHX - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share (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 analysts' expectations of $900.59 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. ChampionX's quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities analysts predict that ChampionX Corporation will post 1.92 earnings per share for the current year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, July 3rd. ChampionX's dividend payout ratio (DPR) is currently 25.17%.

Analyst Ratings Changes

Separately, Stifel Nicolaus raised 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 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.