Deutsche Bank AG Purchases 49,210 Shares of ChampionX Co. (NASDAQ:CHX)

Deutsche Bank AG raised its stake in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 39.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 172,642 shares of the company's stock after acquiring an additional 49,210 shares during the period. Deutsche Bank AG owned approximately 0.09% of ChampionX worth $4,694,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new stake in shares of ChampionX during the 4th quarter valued at about $1,327,000. Bridgefront Capital LLC purchased a new stake in ChampionX in the 4th quarter worth approximately $802,000. Caxton Associates LP purchased a new stake in ChampionX in the 4th quarter worth approximately $8,190,000. Balyasny Asset Management L.P. bought a new position in ChampionX in the 4th quarter worth approximately $9,294,000. Finally, Bank of America Corp DE boosted its stake in ChampionX by 4.6% in the 4th quarter. Bank of America Corp DE now owns 2,289,608 shares of the company's stock worth $62,254,000 after purchasing an additional 100,562 shares during the period. Institutional investors own 98.99% of the company's stock.

Wall Street Analysts Forecast Growth

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 Stock Down 1.8%

Shares of CHX opened at $25.50 on Tuesday. The company has a market cap of $4.88 billion, a PE ratio of 15.45 and a beta of 1.52. The business has a fifty day moving average of $26.34 and a 200 day moving average of $28.17. ChampionX Co. has a 52-week low of $21.92 and a 52-week high of $35.94. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32.

ChampionX (NASDAQ:CHX - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.09. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. The business had revenue of $864.46 million for the quarter, compared to analyst estimates of $900.59 million. During the same quarter last year, the firm posted $0.50 earnings per share. The business's revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts expect that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.095 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.38 annualized dividend and a dividend yield of 1.49%. ChampionX's dividend 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.

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