Nisa Investment Advisors LLC Sells 189,672 Shares of ChampionX Corporation (NASDAQ:CHX)

Nisa Investment Advisors LLC trimmed its holdings in ChampionX Corporation (NASDAQ:CHX - Free Report) by 89.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,431 shares of the company's stock after selling 189,672 shares during the period. Nisa Investment Advisors LLC's holdings in ChampionX were worth $639,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CHX. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of ChampionX by 123.7% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 246,152 shares of the company's stock worth $6,693,000 after buying an additional 136,132 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of ChampionX during the 1st quarter worth $1,528,000. Schroder Investment Management Group bought a new stake in shares of ChampionX during the 4th quarter worth $472,000. State of Alaska Department of Revenue boosted its holdings in ChampionX by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 22,323 shares of the company's stock valued at $665,000 after purchasing an additional 600 shares during the period. Finally, Yakira Capital Management Inc. boosted its holdings in ChampionX by 29.9% in the 4th quarter. Yakira Capital Management Inc. now owns 218,290 shares of the company's stock valued at $5,935,000 after purchasing an additional 50,300 shares during the period. 98.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Stifel Nicolaus increased 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 Price Performance

ChampionX stock remained flat at $25.81 during midday trading on Friday. 1,273 shares of the company traded hands, compared to its average volume of 2,856,919. The firm has a 50 day moving average price of $25.58 and a two-hundred day moving average price of $27.04. ChampionX Corporation has a twelve month low of $21.92 and a twelve month high of $35.94. The stock has a market capitalization of $4.94 billion, a PE ratio of 17.09, a PEG ratio of 5.04 and a beta of 1.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.25 and a quick ratio of 1.62.

ChampionX (NASDAQ:CHX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.09. ChampionX had a net margin of 8.20% and a return on equity of 19.25%. The firm had revenue of $864.46 million for the quarter, compared to analyst estimates of $900.59 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The business's revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that ChampionX Corporation will post 1.92 EPS for the current fiscal year.

ChampionX Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.47%. 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.