Swiss National Bank Reduces Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Swiss National Bank trimmed its holdings in ChampionX Co. (NASDAQ:CHX - Free Report) by 11.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 387,422 shares of the company's stock after selling 47,800 shares during the quarter. Swiss National Bank owned 0.20% of ChampionX worth $11,317,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky boosted its holdings in ChampionX by 91.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 68,526 shares of the company's stock worth $2,441,000 after buying an additional 32,657 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of ChampionX in the 3rd quarter valued at about $250,000. Prudential PLC acquired a new position in ChampionX in the 3rd quarter worth about $788,000. Congress Asset Management Co. MA boosted its position in ChampionX by 114.0% during the third quarter. Congress Asset Management Co. MA now owns 4,172,230 shares of the company's stock worth $148,615,000 after purchasing an additional 2,222,224 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in ChampionX by 51.6% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 601,358 shares of the company's stock valued at $17,566,000 after purchasing an additional 204,640 shares during the period. 98.99% of the stock is owned by institutional investors and hedge funds.

ChampionX Price Performance

CHX traded up $0.01 on Friday, reaching $34.23. 823,220 shares of the company's stock were exchanged, compared to its average volume of 2,189,710. ChampionX Co. has a twelve month low of $24.98 and a twelve month high of $39.95. The stock has a market cap of $6.52 billion, a PE ratio of 18.60, a P/E/G ratio of 1.08 and a beta of 2.45. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.83 and a quick ratio of 1.16. The stock's fifty day moving average price is $34.86 and its 200-day moving average price is $31.15.

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

ChampionX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 5th were issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Thursday, April 4th. This is a positive change from ChampionX's previous quarterly dividend of $0.09. ChampionX's payout ratio is currently 20.65%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CHX shares. Citigroup upped 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. Barclays lifted their target price on shares of ChampionX from $39.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, April 4th. 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 note on Monday, April 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, ChampionX currently has a consensus rating of "Moderate Buy" and an average price target of $40.33.

Insider Activity

In other news, insider William Jr. O'dell sold 27,178 shares of the firm's stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $36.00, for a total transaction of $978,408.00. Following the completion of the sale, the insider now owns 57,748 shares in the company, valued at approximately $2,078,928. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.38% of the company's stock.

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.