Chevy Chase Trust Holdings LLC Reduces Stock Holdings in ChampionX Corporation (NASDAQ:CHX)

Chevy Chase Trust Holdings LLC cut its position in ChampionX Corporation (NASDAQ:CHX - Free Report) by 9.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 328,639 shares of the company's stock after selling 33,583 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.17% of ChampionX worth $9,793,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CHX. Snowden Capital Advisors LLC lifted its holdings in ChampionX by 3.6% during the 4th quarter. Snowden Capital Advisors LLC now owns 12,199 shares of the company's stock worth $332,000 after buying an additional 419 shares during the last quarter. Arizona State Retirement System boosted its holdings in ChampionX by 0.8% in the fourth quarter. Arizona State Retirement System now owns 55,268 shares of the company's stock valued at $1,503,000 after purchasing an additional 436 shares in the last quarter. Jones Financial Companies Lllp increased its stake in ChampionX by 153.2% in the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock valued at $25,000 after purchasing an additional 559 shares during the last quarter. Retirement Systems of Alabama increased its stake in 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 purchasing an additional 595 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in ChampionX by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 22,323 shares of the company's stock worth $665,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company's stock.

ChampionX Stock Performance

Shares of ChampionX stock traded down $0.12 during trading on Monday, reaching $24.84. The company's stock had a trading volume of 2,566,613 shares, compared to its average volume of 2,799,044. The company has a 50-day moving average price of $25.14 and a two-hundred day moving average price of $27.08. ChampionX Corporation has a fifty-two week low of $21.92 and a fifty-two week high of $35.94. The firm has a market cap of $4.76 billion, a PE ratio of 16.45, a P/E/G ratio of 4.88 and a beta of 1.51. 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 (NASDAQ:CHX - Get Free Report) last released 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 return on equity of 19.25% and a net margin of 8.20%. The business had revenue of $864.46 million during the quarter, compared to analysts' expectations of $900.59 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. The company's quarterly revenue was down 6.3% compared to the same quarter last year. On average, analysts forecast that ChampionX Corporation will post 1.92 EPS for the current year.

ChampionX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, July 3rd. ChampionX's dividend payout ratio is presently 25.17%.

Wall Street Analysts Forecast Growth

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