Teacher Retirement System of Texas Invests $1.53 Million in ChampionX Corporation (NASDAQ:CHX)

Teacher Retirement System of Texas bought a new position in shares of ChampionX Corporation (NASDAQ:CHX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 51,276 shares of the company's stock, valued at approximately $1,528,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Jones Financial Companies Lllp boosted its stake in shares of ChampionX by 153.2% in the 4th quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock worth $25,000 after buying an additional 559 shares during the last quarter. UMB Bank n.a. raised its stake in shares of ChampionX by 45.5% during the 1st quarter. UMB Bank n.a. now owns 3,097 shares of the company's stock worth $92,000 after purchasing an additional 969 shares during the period. Parallel Advisors LLC raised its position in ChampionX by 27.5% in the first quarter. Parallel Advisors LLC now owns 4,672 shares of the company's stock worth $139,000 after acquiring an additional 1,007 shares during the period. Vestcor Inc grew its position in shares of ChampionX by 71.6% during the 4th quarter. Vestcor Inc now owns 5,032 shares of the company's stock valued at $137,000 after acquiring an additional 2,100 shares during the period. Finally, Brown Brothers Harriman & Co. increased its stake in shares of ChampionX by 82,557.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company's stock worth $157,000 after purchasing an additional 5,779 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company's stock.

Analyst Ratings Changes

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

ChampionX Price Performance

CHX traded down $0.88 during trading on Tuesday, reaching $25.72. 4,323,307 shares of the company were exchanged, compared to its average volume of 2,843,076. The company has a quick ratio of 1.62, a current ratio of 2.25 and a debt-to-equity ratio of 0.31. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 5.35 and a beta of 1.49. ChampionX Corporation has a 12-month low of $21.92 and a 12-month high of $35.94. The company's 50-day moving average is $25.43 and its two-hundred day moving average is $27.07.

ChampionX (NASDAQ:CHX - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.09. The business had revenue of $864.46 million for the quarter, compared to analyst estimates of $900.59 million. ChampionX had a return on equity of 19.25% and a net margin of 8.20%. The company's quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. Research analysts forecast that ChampionX Corporation will post 1.92 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.095 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.48%. ChampionX's dividend payout ratio is presently 25.17%.

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.