GABELLI & Co INVESTMENT ADVISERS INC. Purchases 88,615 Shares of ChampionX Co. (NASDAQ:CHX)

GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 49.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 269,350 shares of the company's stock after acquiring an additional 88,615 shares during the period. ChampionX comprises 1.3% of GABELLI & Co INVESTMENT ADVISERS INC.'s holdings, making the stock its 22nd largest holding. GABELLI & Co INVESTMENT ADVISERS INC. owned approximately 0.14% of ChampionX worth $7,324,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CHX. Gamco Investors INC. ET AL lifted its holdings in shares of ChampionX by 22.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 53,346 shares of the company's stock worth $1,450,000 after acquiring an additional 9,834 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of ChampionX by 41.2% during the 4th quarter. Gabelli Funds LLC now owns 299,879 shares of the company's stock valued at $8,154,000 after purchasing an additional 87,500 shares during the last quarter. Barclays PLC increased its position in ChampionX by 43.1% during the 4th quarter. Barclays PLC now owns 511,092 shares of the company's stock worth $13,897,000 after purchasing an additional 154,011 shares in the last quarter. Keystone Financial Group lifted its stake in ChampionX by 31.4% in the 4th quarter. Keystone Financial Group now owns 9,121 shares of the company's stock valued at $248,000 after purchasing an additional 2,180 shares during the last quarter. Finally, BTG Pactual Asset Management US LLC acquired a new stake in ChampionX in the fourth quarter valued at approximately $272,000. 98.99% of the stock is owned by institutional investors.

ChampionX Price Performance

Shares of NASDAQ:CHX traded up $0.72 during trading on Friday, hitting $25.41. 3,021,430 shares of the company were exchanged, compared to its average volume of 2,526,659. ChampionX Co. has a 1-year low of $21.92 and a 1-year high of $35.94. The company has a market capitalization of $4.85 billion, a P/E ratio of 15.40 and a beta of 1.81. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The business's 50 day moving average is $28.07 and its 200-day moving average is $28.95.

ChampionX (NASDAQ:CHX - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. Equities analysts forecast that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX's dividend payout ratio (DPR) is currently 23.03%.

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.