Sapience Investments LLC Lowers Stock Position in ChampionX Co. (NASDAQ:CHX)

Sapience Investments LLC lowered its position in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 14.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,415 shares of the company's stock after selling 13,075 shares during the quarter. Sapience Investments LLC's holdings in ChampionX were worth $2,159,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Jones Financial Companies Lllp increased its position in ChampionX by 153.2% during the 4th quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock valued at $25,000 after buying an additional 559 shares in the last quarter. Venturi Wealth Management LLC raised its position 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 during the last quarter. R Squared Ltd purchased a new position in shares of ChampionX in the 4th quarter worth about $103,000. Vestcor Inc boosted its stake in 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 position in ChampionX by 82,557.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company's stock valued at $157,000 after purchasing an additional 5,779 shares during the last quarter. Institutional investors own 98.99% of the company's stock.

ChampionX Stock Performance

NASDAQ:CHX traded down $0.01 during mid-day trading on Thursday, reaching $24.62. The company's stock had a trading volume of 1,768,604 shares, compared to its average volume of 2,685,783. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32. The stock has a market cap of $4.71 billion, a P/E ratio of 14.89 and a beta of 1.52. The firm's fifty day moving average price is $26.17 and its two-hundred day moving average price is $28.13. ChampionX Co. has a 12-month low of $21.92 and a 12-month high of $35.94.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.09. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. The firm had revenue of $864.46 million during the quarter, compared to analysts' expectations of $900.59 million. During the same period in the previous year, the company earned $0.50 earnings per share. The firm's quarterly revenue was down 6.3% on a year-over-year basis. On average, equities analysts forecast that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Thursday, July 3rd. ChampionX's payout ratio is currently 25.17%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus upped their target price on shares of ChampionX from $39.00 to $40.00 and gave the stock a "buy" rating in a research note on Monday, May 5th.

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.