ChampionX Co. (NASDAQ:CHX) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 714,261 shares of the company's stock after selling 36,789 shares during the quarter. Mutual of America Capital Management LLC owned about 0.37% of ChampionX worth $20,864,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of ChampionX by 0.5% during the first quarter. BlackRock Inc. now owns 24,501,257 shares of the company's stock valued at $599,791,000 after acquiring an additional 126,529 shares in the last quarter. Vanguard Group Inc. increased its holdings in ChampionX by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 19,915,020 shares of the company's stock worth $487,520,000 after buying an additional 132,397 shares in the last quarter. Alliancebernstein L.P. increased its holdings in ChampionX by 13.7% in the 2nd quarter. Alliancebernstein L.P. now owns 8,184,487 shares of the company's stock worth $254,046,000 after buying an additional 988,872 shares in the last quarter. State Street Corp increased its holdings in ChampionX by 6.1% in the 1st quarter. State Street Corp now owns 7,422,065 shares of the company's stock worth $201,357,000 after buying an additional 426,656 shares in the last quarter. Finally, FMR LLC increased its holdings in ChampionX by 20.2% in the 3rd quarter. FMR LLC now owns 7,109,432 shares of the company's stock worth $253,238,000 after buying an additional 1,193,122 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CHX. Barclays lifted their price objective on ChampionX from $39.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, April 4th. Piper Sandler lifted their price objective on ChampionX from $32.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Citigroup lifted their price objective on ChampionX from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, ChampionX currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.33.

Insider Activity

In other news, insider William Jr. O'dell sold 27,178 shares of ChampionX stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $36.00, for a total transaction of $978,408.00. Following the transaction, the insider now directly owns 57,748 shares of the company's stock, valued at approximately $2,078,928. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.22% of the company's stock.

ChampionX Stock Performance

Shares of ChampionX stock traded down $1.28 during trading hours on Friday, reaching $37.22. 2,091,878 shares of the stock traded hands, compared to its average volume of 2,008,194. The company has a 50 day moving average price of $32.69 and a 200 day moving average price of $31.13. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 1.22 and a beta of 2.44. ChampionX Co. has a one year low of $24.98 and a one year high of $39.95. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.36.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. ChampionX had a return on equity of 20.14% and a net margin of 8.36%. The business had revenue of $943.56 million during the quarter, compared to the consensus estimate of $947.33 million. During the same period in the previous year, the company posted $0.43 EPS. The business's quarterly revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts expect that ChampionX Co. will post 1.95 earnings per share for the current fiscal year.

ChampionX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be given a dividend of $0.095 per share. This is a boost from ChampionX's previous quarterly dividend of $0.09. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, April 4th. ChampionX's payout ratio is presently 24.20%.

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.