Park Avenue Securities LLC Has $334,000 Holdings in ChampionX Corporation (NASDAQ:CHX)

Park Avenue Securities LLC decreased its position in shares of ChampionX Corporation (NASDAQ:CHX - Free Report) by 61.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,217 shares of the company's stock after selling 17,629 shares during the period. Park Avenue Securities LLC's holdings in ChampionX were worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CHX. Vanguard Group Inc. boosted its stake in shares of ChampionX by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 19,964,329 shares of the company's stock valued at $542,830,000 after purchasing an additional 227,627 shares in the last quarter. Westchester Capital Management LLC lifted its stake in ChampionX by 14.7% in the 4th quarter. Westchester Capital Management LLC now owns 3,243,134 shares of the company's stock valued at $88,181,000 after purchasing an additional 414,995 shares during the last quarter. Northern Trust Corp boosted its position in ChampionX by 10.9% in the fourth quarter. Northern Trust Corp now owns 2,917,978 shares of the company's stock valued at $79,340,000 after buying an additional 286,853 shares in the last quarter. AQR Arbitrage LLC grew its stake in shares of ChampionX by 7.4% during the fourth quarter. AQR Arbitrage LLC now owns 2,808,543 shares of the company's stock worth $75,859,000 after buying an additional 194,219 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of ChampionX during the fourth quarter worth $74,032,000. Institutional investors and hedge funds own 98.99% of the company's stock.

ChampionX Trading Down 0.7%

NASDAQ CHX traded down $0.18 during trading hours on Thursday, reaching $26.33. The company's stock had a trading volume of 3,694,878 shares, compared to its average volume of 2,768,760. The firm has a fifty day simple moving average of $25.06 and a 200-day simple moving average of $27.36. 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 Corporation has a 52 week low of $21.92 and a 52 week high of $35.94. The stock has a market cap of $5.04 billion, a P/E ratio of 17.44, a P/E/G ratio of 5.18 and a beta of 1.51.

ChampionX (NASDAQ:CHX - Get Free Report) last released 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. The firm had revenue of $864.46 million during the quarter, compared to the consensus estimate of $900.59 million. ChampionX had a net margin of 8.20% and a return on equity of 19.25%. The company's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 earnings per share. Equities analysts forecast that ChampionX Corporation will post 1.92 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a $0.095 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.44%. ChampionX's dividend payout ratio (DPR) is presently 25.17%.

Analyst Ratings Changes

Separately, Stifel Nicolaus raised their price objective on ChampionX from $39.00 to $40.00 and gave the company a "buy" rating in a report on Monday, May 5th.

ChampionX Company 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.