Principal Financial Group Inc. Sells 52,048 Shares of ChampionX Corporation (NASDAQ:CHX)

Principal Financial Group Inc. lessened its stake in ChampionX Corporation (NASDAQ:CHX - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,826,706 shares of the company's stock after selling 52,048 shares during the quarter. Principal Financial Group Inc. owned approximately 0.96% of ChampionX worth $54,436,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of ChampionX by 123.7% in 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 last quarter. Schroder Investment Management Group acquired a new stake in ChampionX during the 4th quarter valued at $472,000. State of Alaska Department of Revenue lifted 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 valued at $665,000 after purchasing an additional 600 shares during the last quarter. Yakira Capital Management Inc. lifted 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 valued at $5,935,000 after purchasing an additional 50,300 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in ChampionX during the 4th quarter valued at $12,080,000. Institutional investors and hedge funds own 98.99% of the company's stock.

ChampionX Stock Performance

CHX stock traded up $0.30 during trading hours on Thursday, hitting $26.92. 2,040,601 shares of the stock were exchanged, compared to its average volume of 2,817,866. 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 has a market capitalization of $5.15 billion, a P/E ratio of 17.83, a P/E/G ratio of 5.24 and a beta of 1.49. The company has a 50-day simple moving average of $25.34 and a two-hundred day simple moving average of $27.05. ChampionX Corporation has a 12 month low of $21.92 and a 12 month high of $35.94.

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. ChampionX had a return on equity of 19.25% and a net margin of 8.20%. The firm had revenue of $864.46 million for the quarter, compared to analysts' expectations of $900.59 million. During the same quarter last year, the business earned $0.50 EPS. The company's quarterly revenue was down 6.3% compared to the same quarter last year. On average, analysts forecast that ChampionX Corporation will post 1.92 earnings per share 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 given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Thursday, July 3rd. ChampionX's payout ratio is currently 25.17%.

Wall Street Analysts Forecast Growth

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

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.