Jane Street Group LLC Lowers Stake in ChampionX Co. (NASDAQ:CHX)

Jane Street Group LLC trimmed its stake in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 191,877 shares of the company's stock after selling 16,781 shares during the period. Jane Street Group LLC owned about 0.10% of ChampionX worth $5,217,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of ChampionX by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 19,964,329 shares of the company's stock valued at $542,830,000 after buying an additional 227,627 shares during the period. Westchester Capital Management LLC increased its stake in ChampionX by 14.7% in the fourth quarter. Westchester Capital Management LLC now owns 3,243,134 shares of the company's stock valued at $88,181,000 after acquiring an additional 414,995 shares during the last quarter. Northern Trust Corp boosted its stake in ChampionX by 10.9% in the fourth quarter. Northern Trust Corp now owns 2,917,978 shares of the company's stock valued at $79,340,000 after buying an additional 286,853 shares in the last quarter. Norges Bank acquired a new position in shares of ChampionX during the fourth quarter worth $74,032,000. Finally, Charles Schwab Investment Management Inc. grew its position in ChampionX by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,679,414 shares of the company's stock worth $72,853,000 after acquiring an additional 56,283 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company's stock.

Wall Street Analyst Weigh In

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

ChampionX Trading Down 0.3%

Shares of CHX traded down $0.07 during mid-day trading on Wednesday, hitting $26.19. 3,143,626 shares of the company's stock traded hands, compared to its average volume of 2,650,976. The business's 50-day moving average price is $26.59 and its 200-day moving average price is $28.24. ChampionX Co. has a 1 year low of $21.92 and a 1 year high of $35.94. The firm has a market capitalization of $5.01 billion, a P/E ratio of 15.87 and a beta of 1.52. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32.

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

ChampionX Announces Dividend

The company also recently disclosed 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 of this dividend is Thursday, July 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.45%. ChampionX's dividend payout ratio is currently 25.17%.

ChampionX 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.