ChampionX Co. (NASDAQ:CHX) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC boosted its stake in ChampionX Co. (NASDAQ:CHX) by 5.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 114,879 shares of the company’s stock after purchasing an additional 6,119 shares during the period. Cerity Partners LLC’s holdings in ChampionX were worth $3,356,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky increased its position in ChampionX by 91.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 68,526 shares of the company’s stock valued at $2,441,000 after acquiring an additional 32,657 shares during the period. Seven Eight Capital LP acquired a new position in ChampionX during the 3rd quarter worth approximately $250,000. Prudential PLC acquired a new position in ChampionX during the 3rd quarter worth approximately $788,000. Congress Asset Management Co. MA increased its position in ChampionX by 114.0% during the 3rd quarter. Congress Asset Management Co. MA now owns 4,172,230 shares of the company’s stock worth $148,615,000 after purchasing an additional 2,222,224 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH increased its position in ChampionX by 51.6% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 601,358 shares of the company’s stock worth $17,566,000 after purchasing an additional 204,640 shares during the period. Institutional investors and hedge funds own 98.99% of the company’s stock.

Insider Activity at ChampionX

In related news, insider William Jr. O’dell sold 27,178 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $36.00, for a total transaction of $978,408.00. Following the sale, the insider now owns 57,748 shares of the company’s stock, valued at $2,078,928. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup boosted their price target on ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Piper Sandler boosted their price target on ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Barclays boosted their price target on ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.33.

ChampionX Stock Performance

NASDAQ CHX opened at $36.07 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.36. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 1.17 and a beta of 2.44. ChampionX Co. has a fifty-two week low of $24.98 and a fifty-two week high of $39.95. The business has a fifty day moving average of $33.41 and a 200-day moving average of $31.10.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $943.56 million for the quarter, compared to analyst estimates of $947.33 million. ChampionX had a return on equity of 20.14% and a net margin of 8.36%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 earnings per share. As a group, analysts predict that ChampionX Co. will post 1.95 earnings per share for the current fiscal year.

ChampionX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be paid a dividend of $0.095 per share. The ex-dividend date is Thursday, April 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.05%. This is a positive change from ChampionX’s previous quarterly dividend of $0.09. ChampionX’s dividend payout ratio (DPR) is presently 24.20%.

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.