Voloridge Investment Management LLC Boosts Stock Position in ChampionX Co. (NASDAQ:CHX)

Voloridge Investment Management LLC lifted its stake in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 468.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 194,502 shares of the company's stock after buying an additional 160,263 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.10% of ChampionX worth $5,289,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in shares of ChampionX by 153.2% during the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock worth $25,000 after purchasing an additional 559 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in ChampionX by 1,051.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company's stock worth $51,000 after acquiring an additional 1,725 shares during the period. R Squared Ltd acquired a new position in ChampionX during the fourth quarter worth $103,000. Vestcor Inc grew its holdings in ChampionX by 71.6% in the fourth quarter. Vestcor Inc now owns 5,032 shares of the company's stock valued at $137,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in ChampionX by 82,557.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company's stock valued at $157,000 after purchasing an additional 5,779 shares during the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus upped 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

ChampionX stock traded down $0.46 during trading hours on Friday, hitting $24.12. The stock had a trading volume of 3,970,914 shares, compared to its average volume of 2,731,764. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 14.62 and a beta of 1.52. ChampionX Co. has a 1-year low of $21.92 and a 1-year high of $35.94. The stock's fifty day moving average is $25.44 and its two-hundred day moving average is $27.81.

ChampionX (NASDAQ:CHX - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.09. The company had revenue of $864.46 million for the quarter, compared to analyst estimates of $900.59 million. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. ChampionX's revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 earnings per share. As a group, analysts predict that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, July 3rd. ChampionX's dividend payout ratio is presently 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.