LMR Partners LLP Buys New Shares in ChampionX Co. (NASDAQ:CHX)

LMR Partners LLP bought a new stake in shares of ChampionX Co. (NASDAQ:CHX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 380,481 shares of the company's stock, valued at approximately $10,345,000. LMR Partners LLP owned 0.20% of ChampionX as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CHX. Arizona State Retirement System raised its holdings in shares of ChampionX by 0.8% during the fourth quarter. Arizona State Retirement System now owns 55,268 shares of the company's stock valued at $1,503,000 after purchasing an additional 436 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in ChampionX by 1.9% in the fourth quarter. Pacer Advisors Inc. now owns 28,394 shares of the company's stock worth $772,000 after purchasing an additional 532 shares during the last quarter. Jones Financial Companies Lllp grew its position in ChampionX by 153.2% in the 4th 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 period. Hudson Edge Investment Partners Inc. raised its stake in ChampionX by 4.8% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 15,150 shares of the company's stock valued at $412,000 after buying an additional 700 shares during the last quarter. Finally, Ethic Inc. lifted its holdings in shares of ChampionX by 6.4% during the 4th quarter. Ethic Inc. now owns 13,938 shares of the company's stock valued at $379,000 after buying an additional 833 shares during the period. 98.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

ChampionX Stock Performance

CHX traded down $0.19 during trading on Thursday, hitting $26.00. The company's stock had a trading volume of 2,258,331 shares, compared to its average volume of 2,661,051. The business's 50 day simple moving average is $26.52 and its 200-day simple moving average is $28.23. The firm has a market cap of $4.98 billion, a PE ratio of 15.76 and a beta of 1.52. ChampionX Co. has a one year low of $21.92 and a one year high of $35.94. 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 released 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. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. The company had revenue of $864.46 million for the quarter, compared to the consensus estimate of $900.59 million. During the same period in the previous year, the business earned $0.50 earnings per share. ChampionX's quarterly revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that ChampionX Co. will post 1.92 EPS 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 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 dividend yield of 1.46%. ChampionX's dividend payout ratio (DPR) 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.