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

Nisa Investment Advisors LLC lowered its holdings in ChampionX Corporation (NASDAQ:CHX - Free Report) by 89.8% in the 1st quarter, according to its most recent Form 13F filing 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.

A number of other large investors also recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in 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 valued at $6,693,000 after buying an additional 136,132 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of ChampionX in the 1st quarter valued at $1,528,000. Schroder Investment Management Group acquired a new position in ChampionX during the 4th quarter worth about $472,000. 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 purchasing an additional 600 shares during the last quarter. Finally, Yakira Capital Management Inc. raised its holdings in ChampionX by 29.9% during the 4th quarter. Yakira Capital Management Inc. now owns 218,290 shares of the company's stock worth $5,935,000 after purchasing an additional 50,300 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus raised their price target 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 Stock Performance

ChampionX stock remained flat at $25.81 during midday trading on Thursday. The company's stock had a trading volume of 1,273 shares, compared to its average volume of 2,855,019. ChampionX Corporation has a 1 year low of $21.92 and a 1 year high of $35.94. The company has a current ratio of 2.25, a quick ratio of 1.62 and a debt-to-equity ratio of 0.31. The firm's 50 day moving average is $25.55 and its 200-day moving average is $27.06. The firm has a market cap of $4.94 billion, a PE ratio of 17.09, a PEG ratio of 5.04 and a beta of 1.49.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, topping 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 analysts' expectations of $900.59 million. During the same period in the previous year, the business posted $0.50 earnings per share. The business's quarterly revenue was down 6.3% compared to the same quarter last year. As a group, research analysts predict that ChampionX Corporation will post 1.92 EPS for the current fiscal year.

ChampionX Dividend Announcement

The business also recently declared 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 is Thursday, July 3rd. This represents a $0.38 annualized dividend and a yield of 1.47%. ChampionX's dividend payout ratio (DPR) is currently 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.