Tabor Asset Management LP Acquires Shares of 317,330 ChampionX Corporation (NASDAQ:CHX)

Tabor Asset Management LP acquired a new position in shares of ChampionX Corporation (NASDAQ:CHX - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 317,330 shares of the company's stock, valued at approximately $9,456,000. ChampionX accounts for about 2.4% of Tabor Asset Management LP's holdings, making the stock its 3rd largest holding. Tabor Asset Management LP owned approximately 0.17% of ChampionX at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CHX. Kintayl Capital LP acquired a new position in ChampionX during the first quarter valued at $10,631,000. Signaturefd LLC lifted its position in ChampionX by 51.6% during the first quarter. Signaturefd LLC now owns 2,321 shares of the company's stock valued at $69,000 after purchasing an additional 790 shares during the period. CWM LLC lifted its position in ChampionX by 124.7% during the first quarter. CWM LLC now owns 15,442 shares of the company's stock valued at $460,000 after purchasing an additional 8,570 shares during the period. Louisiana State Employees Retirement System lifted its position in ChampionX by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 53,500 shares of the company's stock valued at $1,594,000 after purchasing an additional 600 shares during the period. Finally, State of Michigan Retirement System lifted its position in ChampionX by 1.3% during the first quarter. State of Michigan Retirement System now owns 45,695 shares of the company's stock valued at $1,362,000 after purchasing an additional 600 shares during the period. 98.99% of the stock is currently owned by institutional investors and hedge funds.

ChampionX Stock Performance

NASDAQ CHX remained flat at $25.81 on Friday. 1,273 shares of the company were exchanged, compared to its average volume of 2,856,919. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 5.04 and a beta of 1.49. The business has a fifty day moving average of $25.58 and a 200 day moving average of $27.04. ChampionX Corporation has a 52 week low of $21.92 and a 52 week high of $35.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.62 and a current ratio of 2.25.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.09. ChampionX had a net margin of 8.20% and a return on equity of 19.25%. 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 previous year, the company earned $0.50 earnings per share. The firm's revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that ChampionX Corporation will post 1.92 EPS for the current fiscal year.

ChampionX Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.47%. ChampionX's payout ratio is 25.17%.

Analyst Ratings Changes

Separately, Stifel Nicolaus boosted their target price on shares of ChampionX from $39.00 to $40.00 and gave the company a "buy" rating in a research 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.