Woodline Partners LP Has $13.60 Million Holdings in ChampionX Co. (NASDAQ:CHX)

Woodline Partners LP lifted its holdings in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 500,000 shares of the company's stock after buying an additional 40,000 shares during the period. Woodline Partners LP owned about 0.26% of ChampionX worth $13,595,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CHX. Jones Financial Companies Lllp raised its holdings in 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 acquiring an additional 559 shares in the last quarter. Venturi Wealth Management LLC raised 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 in the last quarter. R Squared Ltd bought a new stake in ChampionX during the fourth quarter worth about $103,000. Vestcor Inc raised its holdings 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 acquiring an additional 2,100 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings 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 acquiring an additional 5,779 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

ChampionX Stock Performance

NASDAQ CHX traded up $0.16 during trading on Tuesday, reaching $24.64. 938,097 shares of the company's stock were exchanged, compared to its average volume of 2,705,402. The business has a 50 day moving average price of $25.87 and a 200-day moving average price of $27.98. The stock has a market capitalization of $4.72 billion, a P/E ratio of 14.91 and a beta of 1.52. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36. ChampionX Co. has a fifty-two week low of $21.92 and a fifty-two week high of $35.94.

ChampionX (NASDAQ:CHX - Get Free Report) last announced its quarterly 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 firm 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 19.84% and a net margin of 8.81%. The business's revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 earnings per share. Sell-side analysts forecast that ChampionX Co. 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. Shareholders 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 1.54%. The ex-dividend date is Thursday, July 3rd. ChampionX's dividend payout ratio (DPR) 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.