ChampionX Co. (NASDAQ:CHX) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its holdings in ChampionX Co. (NASDAQ:CHX - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,154,592 shares of the company's stock after selling 49,547 shares during the quarter. Nuveen Asset Management LLC owned about 0.61% of ChampionX worth $31,393,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of ChampionX by 123.7% during the fourth 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. Van ECK Associates Corp raised its stake in ChampionX by 0.3% in the 4th quarter. Van ECK Associates Corp now owns 2,639,352 shares of the company's stock worth $71,764,000 after acquiring an additional 9,056 shares during the last quarter. Schroder Investment Management Group acquired a new stake in ChampionX during the 4th quarter worth about $472,000. Yakira Capital Management Inc. grew its stake in ChampionX by 29.9% during 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 last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of ChampionX in the fourth quarter valued at about $12,080,000. Institutional investors and hedge funds own 98.99% of the company's stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus raised their price objective on 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

Shares of CHX stock traded up $0.08 during trading hours on Tuesday, hitting $24.56. The company's stock had a trading volume of 634,420 shares, compared to its average volume of 2,704,951. The stock has a market cap of $4.70 billion, a PE ratio of 14.88 and a beta of 1.52. ChampionX Co. has a 12-month low of $21.92 and a 12-month high of $35.94. The company has a 50 day moving average of $25.87 and a 200 day moving average of $27.98. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32.

ChampionX (NASDAQ:CHX - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.09. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. The company had revenue of $864.46 million during the quarter, compared to the consensus estimate of $900.59 million. During the same period in the previous year, the firm posted $0.50 earnings per share. The firm's quarterly revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts forecast that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued 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 1.55%. ChampionX's dividend payout ratio (DPR) is presently 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.