California Public Employees Retirement System Has $11.04 Million Stake in ChampionX Co. (NASDAQ:CHX)

California Public Employees Retirement System reduced its position in ChampionX Co. (NASDAQ:CHX - Free Report) by 6.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 377,809 shares of the company's stock after selling 27,453 shares during the period. California Public Employees Retirement System owned 0.19% of ChampionX worth $11,036,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CHX. Parkside Financial Bank & Trust increased its holdings 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 valued at $77,000 after acquiring an additional 352 shares in the last quarter. AMG National Trust Bank raised its holdings in shares of ChampionX by 1.0% in the third quarter. AMG National Trust Bank now owns 39,832 shares of the company's stock worth $1,419,000 after buying an additional 380 shares during the last quarter. United Services Automobile Association lifted its stake in shares of ChampionX by 4.1% during the third quarter. United Services Automobile Association now owns 13,913 shares of the company's stock worth $496,000 after buying an additional 547 shares during the period. SG Americas Securities LLC grew its holdings in shares of ChampionX by 16.9% during the third quarter. SG Americas Securities LLC now owns 4,479 shares of the company's stock valued at $160,000 after buying an additional 649 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of ChampionX by 1.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 37,026 shares of the company's stock valued at $1,319,000 after acquiring an additional 650 shares during the period. Hedge funds and other institutional investors own 98.99% of the company's stock.

ChampionX Price Performance

Shares of CHX stock traded up $0.35 during trading hours on Thursday, hitting $33.55. 2,279,868 shares of the company's stock were exchanged, compared to its average volume of 2,059,693. The firm has a 50 day moving average of $34.47 and a two-hundred day moving average of $31.16. ChampionX Co. has a fifty-two week low of $24.98 and a fifty-two week high of $39.95. The firm has a market cap of $6.39 billion, a P/E ratio of 18.24, a P/E/G ratio of 1.06 and a beta of 2.45. The company has a quick ratio of 1.16, a current ratio of 1.83 and a debt-to-equity ratio of 0.35.

ChampionX (NASDAQ:CHX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.10. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. The company had revenue of $922.14 million during the quarter, compared to analysts' expectations of $922.13 million. Sell-side analysts forecast that ChampionX Co. will post 1.95 EPS for the current year.

ChampionX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 5th were issued a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.13%. This is a boost from ChampionX's previous quarterly dividend of $0.09. The ex-dividend date was Thursday, April 4th. ChampionX's payout ratio is presently 20.65%.

Insiders Place Their Bets

In related news, insider William Jr. O'dell sold 27,178 shares of the 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 directly owns 57,748 shares of the company's stock, valued at approximately $2,078,928. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.38% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays lifted their price objective on shares of ChampionX from $39.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, April 4th. Citigroup boosted their target price on shares of ChampionX from $39.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, March 27th. Finally, Piper Sandler raised their price target on shares of ChampionX from $32.00 to $40.00 and gave the company a "neutral" rating in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.33.

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.