Van ECK Associates Corp cut its holdings in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 12.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,429,572 shares of the company's stock after selling 509,408 shares during the period. Van ECK Associates Corp owned about 1.76% of ChampionX worth $100,178,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of CHX. GAMMA Investing LLC acquired a new stake in shares of ChampionX in the 4th quarter valued at about $26,000. Parkside Financial Bank & Trust raised its position in shares of ChampionX by 19.4% during the third quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company's stock worth $77,000 after purchasing an additional 352 shares during the period. Mendota Financial Group LLC bought a new position in shares of ChampionX in the 4th quarter worth $114,000. SG Americas Securities LLC grew its position in ChampionX by 16.9% in the 3rd quarter. SG Americas Securities LLC now owns 4,479 shares of the company's stock valued at $160,000 after purchasing an additional 649 shares during the period. Finally, Prudent Man Advisors LLC bought a new stake in ChampionX during the 3rd quarter valued at $201,000. 98.99% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
CHX has been the topic of a number of recent analyst reports. Barclays lifted their target price on ChampionX from $39.00 to $51.00 and gave the stock an "overweight" rating in a research note 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 research 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 research note 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $40.33.
Check Out Our Latest Research Report on CHX
Insiders Place Their Bets
In related news, insider William Jr. O'dell sold 27,178 shares of the firm's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $36.00, for a total value of $978,408.00. Following the completion of the transaction, the insider now owns 57,748 shares in the company, valued at approximately $2,078,928. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.38% of the stock is owned by insiders.
ChampionX Price Performance
Shares of NASDAQ:CHX traded down $0.99 during midday trading on Tuesday, reaching $33.57. 2,153,960 shares of the company were exchanged, compared to its average volume of 2,053,334. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The stock has a market cap of $6.39 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 1.10 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 business's fifty day moving average is $34.34 and its two-hundred day moving average is $31.14.
ChampionX (NASDAQ:CHX - Get Free Report) last released its earnings results 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 analysts' expectations of $922.13 million. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. As a group, analysts predict that ChampionX Co. will post 1.95 earnings per share for the current year.
ChampionX Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 5th were given a $0.095 dividend. This is a positive change from ChampionX's previous quarterly dividend of $0.09. This represents a $0.38 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Thursday, April 4th. ChampionX's dividend payout ratio (DPR) is presently 20.65%.
ChampionX Profile
(
Free Report)
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.
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