Pentwater Capital Management LP Purchases New Stake in ChampionX Co. (NASDAQ:CHX)

Pentwater Capital Management LP acquired a new position in shares of ChampionX Co. (NASDAQ:CHX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 300,000 shares of the company's stock, valued at approximately $8,157,000. Pentwater Capital Management LP owned about 0.16% of ChampionX at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its position in shares of ChampionX by 153.2% in the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock valued at $25,000 after acquiring an additional 559 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of ChampionX by 1,051.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company's stock worth $51,000 after purchasing an additional 1,725 shares in the last quarter. R Squared Ltd bought a new stake in shares of ChampionX in the 4th quarter worth $103,000. Vestcor Inc increased its holdings in shares of ChampionX by 71.6% in the 4th quarter. Vestcor Inc now owns 5,032 shares of the company's stock worth $137,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of ChampionX by 82,557.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company's stock worth $157,000 after acquiring an additional 5,779 shares during the period. 98.99% of the stock is owned by hedge funds and other institutional investors.

ChampionX Price Performance

NASDAQ CHX opened at $24.73 on Tuesday. The company has a market capitalization of $4.72 billion, a PE ratio of 14.99 and a beta of 1.81. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99. The business's fifty day moving average is $27.50 and its 200 day moving average is $28.63. ChampionX Co. has a fifty-two week low of $21.92 and a fifty-two week high of $35.94.

ChampionX (NASDAQ:CHX - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. Sell-side analysts predict that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 4th were given a dividend of $0.095 per share. The ex-dividend date was Friday, April 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.54%. ChampionX's dividend payout ratio (DPR) is 23.03%.

About ChampionX

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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