Parr Mcknight Wealth Management Group LLC Acquires New Position in ChampionX Co. (NASDAQ:CHX)

Parr Mcknight Wealth Management Group LLC bought a new position in ChampionX Co. (NASDAQ:CHX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,345 shares of the company's stock, valued at approximately $308,000.

Several other hedge funds have also modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised 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 valued at $6,693,000 after purchasing an additional 136,132 shares during the period. Van ECK Associates Corp increased its stake in shares of ChampionX by 0.3% in the fourth quarter. Van ECK Associates Corp now owns 2,639,352 shares of the company's stock worth $71,764,000 after buying an additional 9,056 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of ChampionX in the fourth quarter worth $472,000. Yakira Capital Management Inc. increased its stake in shares of ChampionX by 29.9% in the fourth quarter. Yakira Capital Management Inc. now owns 218,290 shares of the company's stock worth $5,935,000 after buying an additional 50,300 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of ChampionX in the fourth quarter worth $12,080,000. 98.99% of the stock is owned by institutional investors and hedge funds.

ChampionX Stock Performance

CHX stock traded up $0.06 during trading on Thursday, hitting $24.51. 609,530 shares of the company's stock traded hands, compared to its average volume of 2,709,409. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. ChampionX Co. has a 52 week low of $21.92 and a 52 week high of $35.94. The stock has a fifty day moving average price of $25.67 and a two-hundred day moving average price of $27.93. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 14.83 and a beta of 1.52.

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

ChampionX Announces Dividend

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 $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, July 3rd. ChampionX's payout ratio is 25.17%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lifted 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 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.