Squarepoint Ops LLC Has $25.13 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Squarepoint Ops LLC reduced its stake in ChampionX Co. (NASDAQ:CHX - Free Report) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 924,237 shares of the company's stock after selling 68,116 shares during the quarter. Squarepoint Ops LLC owned about 0.48% of ChampionX worth $25,130,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHX. Norges Bank acquired a new position in shares of ChampionX during the 4th quarter valued at about $74,032,000. Calamos Advisors LLC increased its position in ChampionX by 470.4% during the 4th quarter. Calamos Advisors LLC now owns 1,494,500 shares of the company's stock worth $40,635,000 after purchasing an additional 1,232,500 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in ChampionX by 135.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,467,451 shares of the company's stock valued at $39,900,000 after buying an additional 844,301 shares during the period. Hudson Bay Capital Management LP increased its position in shares of ChampionX by 186.2% in the fourth quarter. Hudson Bay Capital Management LP now owns 964,420 shares of the company's stock worth $26,223,000 after acquiring an additional 627,426 shares in the last quarter. Finally, Birnam Oak Advisors LP acquired a new position in shares of ChampionX during the 4th quarter valued at $17,037,000. Hedge funds and other institutional investors own 98.99% of the company's stock.

Wall Street Analyst Weigh In

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

ChampionX Stock Down 0.1%

Shares of ChampionX stock traded down $0.02 during trading on Monday, reaching $24.48. The company had a trading volume of 3,558,468 shares, compared to its average volume of 2,712,307. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99. ChampionX Co. has a fifty-two week low of $21.92 and a fifty-two week high of $35.94. The firm's fifty day moving average is $25.97 and its 200-day moving average is $28.03. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 14.84 and a beta of 1.52.

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, topping the consensus estimate of $0.41 by $0.09. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. The company had revenue of $864.46 million during the quarter, compared to analysts' expectations of $900.59 million. During the same quarter in the prior year, the business posted $0.50 earnings per share. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. On average, analysts anticipate that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.55%. The ex-dividend date is Thursday, July 3rd. ChampionX's dividend payout ratio (DPR) is currently 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.