Woodline Partners LP Increases Stake in ChampionX Co. (NASDAQ:CHX)

Woodline Partners LP grew its position in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 500,000 shares of the company's stock after buying an additional 40,000 shares during the quarter. Woodline Partners LP owned 0.26% of ChampionX worth $13,595,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp increased its holdings in shares of ChampionX by 153.2% in the 4th quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock valued at $25,000 after purchasing an additional 559 shares in the last quarter. Venturi Wealth Management LLC grew its stake in ChampionX by 1,051.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company's stock valued at $51,000 after acquiring an additional 1,725 shares during the last quarter. R Squared Ltd acquired a new stake in ChampionX in the 4th quarter valued at about $103,000. Vestcor Inc grew its stake in ChampionX by 71.6% in 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 last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in ChampionX by 82,557.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company's stock valued at $157,000 after acquiring an additional 5,779 shares during the last quarter. Hedge funds and other institutional investors own 98.99% of the company's stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus increased their price objective on shares of 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

NASDAQ CHX traded down $0.02 during trading hours on Friday, reaching $24.48. The company's stock had a trading volume of 3,558,468 shares, compared to its average volume of 2,712,307. The stock has a market cap of $4.69 billion, a PE ratio of 14.84 and a beta of 1.52. ChampionX Co. has a fifty-two week low of $21.92 and a fifty-two week high of $35.94. The company's 50-day moving average is $25.97 and its two-hundred day moving average is $28.05. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.09. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. The company had revenue of $864.46 million for the quarter, compared to analysts' expectations of $900.59 million. During the same period last year, the company earned $0.50 EPS. The firm's revenue for the quarter was down 6.3% compared to the same quarter last year. Analysts forecast that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.095 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.38 annualized dividend and a dividend yield of 1.55%. ChampionX's dividend payout ratio is currently 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.