FNY Investment Advisers LLC Takes Position in ChampionX Corporation (NASDAQ:CHX)

FNY Investment Advisers LLC acquired a new position in ChampionX Corporation (NASDAQ:CHX - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 25,000 shares of the company's stock, valued at approximately $745,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its position in shares of ChampionX by 153.2% in the 4th quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock valued at $25,000 after buying an additional 559 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of ChampionX by 1,051.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company's stock valued at $51,000 after buying an additional 1,725 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of ChampionX by 45.5% during the 1st quarter. UMB Bank n.a. now owns 3,097 shares of the company's stock valued at $92,000 after purchasing an additional 969 shares during the last quarter. Vestcor Inc grew its holdings in shares of ChampionX by 71.6% during the 4th quarter. Vestcor Inc now owns 5,032 shares of the company's stock valued at $137,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of ChampionX by 27.5% during the 1st quarter. Parallel Advisors LLC now owns 4,672 shares of the company's stock valued at $139,000 after purchasing an additional 1,007 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.

ChampionX Price Performance

Shares of ChampionX stock traded down $0.18 during midday trading on Thursday, hitting $26.33. 3,694,878 shares of the company traded hands, compared to its average volume of 2,768,760. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 5.18 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. The firm's fifty day moving average price is $25.06 and its 200-day moving average price is $27.36. ChampionX Corporation has a 12 month low of $21.92 and a 12 month high of $35.94.

ChampionX (NASDAQ:CHX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $900.59 million. During the same period in the previous year, the firm posted $0.50 EPS. The firm's revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that ChampionX Corporation will post 1.92 earnings per share for the current year.

ChampionX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders 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 1.44%. The ex-dividend date is Thursday, July 3rd. ChampionX's payout ratio is 25.17%.

Analyst Ratings Changes

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