Nisa Investment Advisors LLC Has $564,000 Holdings in ChampionX Co. (NASDAQ:CHX)

Nisa Investment Advisors LLC cut its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,316 shares of the company’s stock after selling 400 shares during the period. Nisa Investment Advisors LLC’s holdings in ChampionX were worth $564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its position in shares of ChampionX by 654.0% in the 1st quarter. NewEdge Advisors LLC now owns 1,870 shares of the company’s stock valued at $51,000 after acquiring an additional 1,622 shares during the period. Parkside Financial Bank & Trust raised its position in shares of ChampionX by 19.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock valued at $77,000 after acquiring an additional 352 shares during the period. Covestor Ltd raised its position in shares of ChampionX by 683.0% in the 1st quarter. Covestor Ltd now owns 2,216 shares of the company’s stock valued at $54,000 after acquiring an additional 1,933 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of ChampionX in the 3rd quarter valued at approximately $96,000. Finally, Mendota Financial Group LLC acquired a new stake in shares of ChampionX in the 4th quarter valued at approximately $114,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ChampionX

In other news, insider William Jr. O’dell sold 27,178 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $36.00, for a total transaction of $978,408.00. Following the completion of the transaction, the insider now directly owns 57,748 shares of the company’s stock, valued at approximately $2,078,928. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.38% of the company’s stock.

ChampionX Stock Performance

Shares of CHX stock opened at $36.07 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.15 and a current ratio of 1.82. The company has a market capitalization of $6.89 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 1.17 and a beta of 2.44. The company’s 50 day moving average price is $33.41 and its two-hundred day moving average price is $31.10. ChampionX Co. has a 52 week low of $24.98 and a 52 week high of $39.95.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $943.56 million during the quarter, compared to analysts’ expectations of $947.33 million. ChampionX had a net margin of 8.36% and a return on equity of 20.14%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the business earned $0.43 EPS. On average, analysts expect that ChampionX Co. will post 1.95 earnings per share for the current fiscal year.

ChampionX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be paid a dividend of $0.095 per share. This is a boost from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, April 4th. ChampionX’s dividend payout ratio (DPR) is currently 24.20%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CHX shares. Barclays increased their price target on shares of ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Citigroup raised their target price on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Finally, Piper Sandler raised their target price on shares of ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, ChampionX has an average rating of “Moderate Buy” and a consensus target price of $40.33.

ChampionX Company 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.