Tower Research Capital LLC TRC Raises Stock Position in ChampionX Co. (NASDAQ:CHX)

Tower Research Capital LLC TRC raised its position in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 219.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,349 shares of the company's stock after purchasing an additional 16,726 shares during the period. Tower Research Capital LLC TRC's holdings in ChampionX were worth $662,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CHX. MetLife Investment Management LLC boosted its stake in shares of ChampionX by 8.2% in the 4th quarter. MetLife Investment Management LLC now owns 219,821 shares of the company's stock valued at $5,977,000 after purchasing an additional 16,643 shares in the last quarter. First Trust Advisors LP purchased a new stake in ChampionX during the fourth quarter valued at about $241,000. Canada Pension Plan Investment Board grew its stake in shares of ChampionX by 26.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 806,900 shares of the company's stock valued at $21,940,000 after buying an additional 166,300 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of ChampionX by 10.1% in the fourth quarter. NewEdge Advisors LLC now owns 31,044 shares of the company's stock worth $844,000 after buying an additional 2,845 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in shares of ChampionX by 49.0% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 269,350 shares of the company's stock valued at $7,324,000 after acquiring an additional 88,615 shares during the last quarter. Hedge funds and other institutional investors own 98.99% of the company's stock.

ChampionX Trading Down 2.2 %

CHX traded down $0.54 on Wednesday, hitting $24.13. 9,105,606 shares of the company were exchanged, compared to its average volume of 2,594,765. 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 firm has a fifty day simple moving average of $27.28 and a two-hundred day simple moving average of $28.57. The stock has a market capitalization of $4.60 billion, a PE ratio of 14.62 and a beta of 1.81. 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 issued its earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $900.59 million. During the same quarter last year, the business earned $0.50 earnings per share. The business's revenue was down 6.3% on a year-over-year basis. Sell-side analysts expect that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 4th were issued a dividend of $0.095 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.57%. ChampionX's dividend payout ratio is currently 25.17%.

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.