Mirae Asset Global Investments Co. Ltd. Has $2.64 Million Stake in ChampionX Co. (NASDAQ:CHX)

Mirae Asset Global Investments Co. Ltd. boosted its position in ChampionX Co. (NASDAQ:CHX) by 2.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 90,338 shares of the company’s stock after purchasing an additional 1,909 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in ChampionX were worth $2,639,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of ChampionX by 0.5% during the first quarter. BlackRock Inc. now owns 24,501,257 shares of the company’s stock valued at $599,791,000 after purchasing an additional 126,529 shares during the period. Vanguard Group Inc. raised its holdings in shares of ChampionX by 0.7% during the first quarter. Vanguard Group Inc. now owns 19,915,020 shares of the company’s stock valued at $487,520,000 after purchasing an additional 132,397 shares during the period. Alliancebernstein L.P. raised its holdings in shares of ChampionX by 13.7% during the second quarter. Alliancebernstein L.P. now owns 8,184,487 shares of the company’s stock valued at $254,046,000 after purchasing an additional 988,872 shares during the period. State Street Corp raised its holdings in shares of ChampionX by 6.1% in the 1st quarter. State Street Corp now owns 7,422,065 shares of the company’s stock worth $201,357,000 after acquiring an additional 426,656 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of ChampionX by 20.2% in the 3rd quarter. FMR LLC now owns 7,109,432 shares of the company’s stock worth $253,238,000 after acquiring an additional 1,193,122 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

Insiders Place Their Bets

In other news, insider William Jr. O’dell sold 27,178 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CHX shares. Barclays upped their target price on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Citigroup upped 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 upped 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, ChampionX currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.33.

ChampionX Trading Up 0.6 %

Shares of CHX stock opened at $36.28 on Friday. ChampionX Co. has a 52-week low of $24.98 and a 52-week high of $39.95. 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 50-day simple moving average of $33.56 and a two-hundred day simple moving average of $31.14. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 1.16 and a beta of 2.44.

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

ChampionX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.05%. This is an increase from ChampionX’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, April 4th. ChampionX’s dividend payout ratio is presently 24.20%.

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.