Zurcher Kantonalbank Zurich Cantonalbank Sells 28,833 Shares of ChampionX Co. (NASDAQ:CHX)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in ChampionX Co. (NASDAQ:CHX - Free Report) by 39.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,566 shares of the company's stock after selling 28,833 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in ChampionX were worth $1,302,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CHX. Congress Asset Management Co. MA raised its holdings in ChampionX by 114.0% in the 3rd quarter. Congress Asset Management Co. MA now owns 4,172,230 shares of the company's stock valued at $148,615,000 after acquiring an additional 2,222,224 shares in the last quarter. FMR LLC raised its holdings in shares of 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. Envestnet Asset Management Inc. raised its holdings in shares of ChampionX by 136.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,022,461 shares of the company's stock worth $36,420,000 after buying an additional 590,680 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of ChampionX by 28.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,426,407 shares of the company's stock worth $86,429,000 after buying an additional 538,555 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in shares of ChampionX by 51.6% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 601,358 shares of the company's stock worth $17,566,000 after buying an additional 204,640 shares in the last quarter. Institutional investors and hedge funds own 98.99% of the company's stock.

ChampionX Price Performance

NASDAQ CHX traded down $0.15 during trading hours on Friday, reaching $34.86. 1,720,357 shares of the company's stock were exchanged, compared to its average volume of 3,763,563. The stock has a market cap of $6.66 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.11 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 firm has a fifty day moving average of $34.26 and a 200-day moving average of $31.16. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.35.

ChampionX (NASDAQ:CHX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.10. The firm had revenue of $922.14 million for the quarter, compared to analyst estimates of $922.13 million. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. On average, equities research analysts predict that ChampionX Co. will post 1.95 earnings per share for the current fiscal year.

ChampionX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 5th were given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.09%. This is a positive change from ChampionX's previous quarterly dividend of $0.09. The ex-dividend date was Thursday, April 4th. ChampionX's dividend payout ratio (DPR) is presently 20.65%.

Wall Street Analyst Weigh In

CHX has been the subject of a number of recent research reports. Barclays increased their target price on ChampionX from $39.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, April 4th. Piper Sandler increased their target price on ChampionX from $32.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, April 8th. Finally, Citigroup increased their target price on ChampionX from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $40.33.

Insider Buying and Selling at ChampionX

In related 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 value of $978,408.00. Following the sale, the insider now owns 57,748 shares of the company's stock, valued at $2,078,928. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.38% of the company's stock.

ChampionX Company 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.