Teacher Retirement System of Texas Makes New Investment in ChampionX Corporation (NASDAQ:CHX)

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

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its holdings in ChampionX by 153.2% during the 4th quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock valued at $25,000 after acquiring an additional 559 shares during the period. UMB Bank n.a. lifted its stake in ChampionX by 45.5% during the first 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 last quarter. Parallel Advisors LLC increased its position in ChampionX by 27.5% during the first quarter. Parallel Advisors LLC now owns 4,672 shares of the company's stock worth $139,000 after buying an additional 1,007 shares during the period. Vestcor Inc increased its position in ChampionX by 71.6% during the fourth quarter. Vestcor Inc now owns 5,032 shares of the company's stock worth $137,000 after buying an additional 2,100 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in ChampionX by 82,557.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company's stock worth $157,000 after buying an additional 5,779 shares during the period. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

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 report on Monday, May 5th.

ChampionX Price Performance

CHX stock traded up $0.46 on Friday, reaching $27.38. 3,358,265 shares of the company's stock were exchanged, compared to its average volume of 2,834,794. The stock has a fifty day moving average of $25.43 and a 200-day moving average of $27.07. ChampionX Corporation has a twelve month low of $21.92 and a twelve month high of $35.94. The firm has a market cap of $5.24 billion, a PE ratio of 15.13, a P/E/G ratio of 5.35 and a beta of 1.49. The company has a quick ratio of 1.62, a current ratio of 2.25 and a debt-to-equity ratio of 0.31.

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

ChampionX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be given a $0.095 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.38 annualized dividend and a dividend yield of 1.39%. ChampionX's dividend payout ratio is currently 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.