Envestnet Portfolio Solutions Inc. Has $255,000 Stake in ChampionX Corporation (NASDAQ:CHX)

Envestnet Portfolio Solutions Inc. reduced its stake in shares of ChampionX Corporation (NASDAQ:CHX - Free Report) by 63.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,549 shares of the company's stock after selling 14,574 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in ChampionX were worth $255,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CHX. State of Alaska Department of Revenue raised its holdings in ChampionX by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 22,323 shares of the company's stock worth $665,000 after buying an additional 600 shares during the period. FNY Investment Advisers LLC acquired a new stake in ChampionX in the 1st quarter valued at about $745,000. Exchange Traded Concepts LLC grew its holdings in ChampionX by 290.7% during the first quarter. Exchange Traded Concepts LLC now owns 8,962 shares of the company's stock worth $267,000 after purchasing an additional 6,668 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in ChampionX by 18.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 26,615 shares of the company's stock worth $793,000 after buying an additional 4,216 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in ChampionX by 3.7% in the first quarter. Fifth Third Bancorp now owns 28,734 shares of the company's stock valued at $856,000 after buying an additional 1,036 shares during the period. Institutional investors and hedge funds own 98.99% of the company's stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus raised their target price 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 Price Performance

ChampionX stock opened at $24.96 on Monday. The stock has a fifty day moving average of $25.14 and a 200-day moving average of $27.11. The stock has a market capitalization of $4.78 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 4.88 and a beta of 1.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.62 and a current ratio of 2.25. ChampionX Corporation has a 52 week low of $21.92 and a 52 week high of $35.94.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating 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 company had revenue of $864.46 million for the quarter, compared to the consensus estimate of $900.59 million. During the same quarter last year, the business posted $0.50 EPS. ChampionX's revenue for the quarter was down 6.3% on a year-over-year basis. On average, sell-side analysts expect that ChampionX Corporation will post 1.92 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.38 annualized dividend and a dividend yield of 1.52%. ChampionX's payout ratio is 25.17%.

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.

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