ChampionX Co. (NASDAQ:CHX) Shares Sold by Heartland Advisors Inc.

Heartland Advisors Inc. reduced its stake in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 77.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,264 shares of the company's stock after selling 182,183 shares during the quarter. Heartland Advisors Inc.'s holdings in ChampionX were worth $1,649,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in shares of ChampionX in the 4th quarter valued at approximately $26,000. Parkside Financial Bank & Trust boosted its holdings in shares of ChampionX by 19.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company's stock valued at $77,000 after buying an additional 352 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of ChampionX in the 4th quarter worth about $91,000. Mendota Financial Group LLC bought a new position in shares of ChampionX in the 4th quarter worth about $114,000. Finally, MeadowBrook Investment Advisors LLC purchased a new position in ChampionX during the 4th quarter valued at about $156,000. 98.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on CHX. Barclays raised their target price 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. Piper Sandler raised their price objective on ChampionX from $32.00 to $40.00 and gave the company a "neutral" rating in a research report on Monday, April 8th. Finally, Citigroup boosted 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.33.

Insider Activity

In other ChampionX news, insider William Jr. O'dell sold 27,178 shares of the firm's 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 transaction, the insider now directly owns 57,748 shares of the company's stock, valued at $2,078,928. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.38% of the company's stock.

ChampionX Stock Up 0.5 %

Shares of CHX traded up $0.17 on Friday, hitting $34.36. 1,048,711 shares of the stock traded hands, compared to its average volume of 1,991,663. ChampionX Co. has a one year low of $24.98 and a one year high of $39.95. The company has a market capitalization of $6.54 billion, a PE ratio of 18.67, a P/E/G ratio of 1.08 and a beta of 2.45. The business has a 50 day simple moving average of $35.13 and a 200 day simple moving average of $31.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.83.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.40 by $0.10. The company 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, equities analysts forecast that ChampionX Co. will post 1.95 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.095 per share. The ex-dividend date is Friday, July 5th. This represents a $0.38 dividend on an annualized basis and a yield of 1.11%. ChampionX's dividend payout ratio is presently 20.65%.

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.