Jefferies Financial Group Inc. Makes New Investment in ChampionX Co. (NASDAQ:CHX)

Jefferies Financial Group Inc. bought a new stake in ChampionX Co. (NASDAQ:CHX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,189 shares of the company's stock, valued at approximately $549,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new position in ChampionX in the fourth quarter worth $74,032,000. Calamos Advisors LLC boosted its position in ChampionX by 470.4% in the fourth quarter. Calamos Advisors LLC now owns 1,494,500 shares of the company's stock worth $40,635,000 after purchasing an additional 1,232,500 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in ChampionX by 135.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,467,451 shares of the company's stock valued at $39,900,000 after buying an additional 844,301 shares during the last quarter. Hudson Bay Capital Management LP lifted its position in ChampionX by 186.2% during the fourth quarter. Hudson Bay Capital Management LP now owns 964,420 shares of the company's stock valued at $26,223,000 after purchasing an additional 627,426 shares in the last quarter. Finally, Birnam Oak Advisors LP purchased a new position in ChampionX during the fourth quarter valued at approximately $17,037,000. 98.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus increased their price objective 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 Stock Performance

CHX stock traded down $0.40 during midday trading on Wednesday, reaching $24.44. The stock had a trading volume of 2,707,050 shares, compared to its average volume of 2,755,556. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99. ChampionX Co. has a 52-week low of $21.92 and a 52-week high of $35.94. The stock has a market cap of $4.68 billion, a PE ratio of 14.81 and a beta of 1.51. The firm has a fifty day simple moving average of $25.10 and a two-hundred day simple moving average of $27.70.

ChampionX (NASDAQ:CHX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. The firm had revenue of $864.46 million during the quarter, compared to the consensus estimate of $900.59 million. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. The firm's revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. As a group, equities research analysts anticipate that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Dividend Announcement

The firm also recently declared 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 1.55%. The ex-dividend date is Thursday, July 3rd. ChampionX's dividend payout ratio (DPR) is 25.17%.

About ChampionX

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.