Dimensional Fund Advisors LP Has $100.31 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Dimensional Fund Advisors LP lifted its holdings in ChampionX Co. (NASDAQ:CHX - Free Report) by 11.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,433,718 shares of the company's stock after purchasing an additional 349,035 shares during the period. Dimensional Fund Advisors LP owned 1.76% of ChampionX worth $100,305,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CHX. FMR LLC lifted its position in ChampionX by 20.2% during the 3rd quarter. FMR LLC now owns 7,109,432 shares of the company's stock worth $253,238,000 after acquiring an additional 1,193,122 shares during the last quarter. Invesco Ltd. increased its holdings in shares of ChampionX by 5.3% during the 3rd quarter. Invesco Ltd. now owns 3,121,545 shares of the company's stock worth $111,189,000 after purchasing an additional 157,788 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of ChampionX by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,466,830 shares of the company's stock worth $72,056,000 after purchasing an additional 40,423 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of ChampionX by 1.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,598,635 shares of the company's stock worth $46,696,000 after purchasing an additional 24,854 shares during the period. Finally, Chevy Chase Trust Holdings LLC increased its holdings in shares of ChampionX by 16.5% during the 4th quarter. Chevy Chase Trust Holdings LLC now owns 1,429,265 shares of the company's stock worth $41,749,000 after purchasing an additional 202,050 shares during the period. Institutional investors and hedge funds own 98.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CHX. Citigroup boosted their price objective on shares of ChampionX from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, March 27th. Barclays upped 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. Finally, Piper Sandler upped their target price 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, ChampionX presently has a consensus rating of "Moderate Buy" and a consensus price target 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 completion of the sale, the insider now directly owns 57,748 shares in the company, valued at $2,078,928. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.38% of the company's stock.

ChampionX Price Performance

ChampionX stock traded down $1.36 during trading hours on Wednesday, hitting $32.87. 1,440,887 shares of the stock were exchanged, compared to its average volume of 1,970,454. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.83. The stock has a market capitalization of $6.26 billion, a P/E ratio of 17.86, a P/E/G ratio of 1.06 and a beta of 2.45. ChampionX Co. has a 12 month low of $24.98 and a 12 month high of $39.95. The business's 50-day moving average is $35.23 and its two-hundred day moving average is $31.34.

ChampionX (NASDAQ:CHX - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $922.14 million for the quarter, compared to analysts' expectations of $922.13 million. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. Equities research analysts expect that ChampionX Co. will post 1.99 EPS for the current fiscal year.

ChampionX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.16%. The ex-dividend date is Friday, July 5th. ChampionX's dividend payout ratio is 20.65%.

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.