54,700 Shares in ChampionX Co. (NASDAQ:CHX) Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in ChampionX Co. (NASDAQ:CHX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 54,700 shares of the company’s stock, valued at approximately $1,598,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NewEdge Advisors LLC grew its stake in ChampionX by 654.0% in the first quarter. NewEdge Advisors LLC now owns 1,870 shares of the company’s stock worth $51,000 after purchasing an additional 1,622 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in ChampionX by 19.4% during 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 in the last quarter. Covestor Ltd boosted its position in ChampionX by 683.0% during 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 in the last quarter. Penserra Capital Management LLC bought a new stake in ChampionX during the 3rd quarter valued at $96,000. Finally, Mendota Financial Group LLC bought a new stake in ChampionX during the 4th quarter valued at $114,000. Institutional investors own 98.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CHX has been the topic of several recent research reports. Citigroup increased their target price on ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Piper Sandler increased their target price on ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Barclays increased their target price on ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.33.

Insider Buying and Selling at ChampionX

In other ChampionX news, insider William Jr. O’dell sold 27,178 shares of ChampionX stock in a transaction dated Thursday, March 28th. The stock was 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 owns 57,748 shares in the company, valued at approximately $2,078,928. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.38% of the company’s stock.

ChampionX Stock Performance

Shares of CHX stock opened at $35.53 on Friday. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 1.14 and a beta of 2.44. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.82 and a quick ratio of 1.15. The business has a fifty day moving average of $33.69 and a 200 day moving average of $31.14. ChampionX Co. has a 1 year low of $24.98 and a 1 year high of $39.95.

ChampionX (NASDAQ:CHX) last issued its earnings results 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. The company had revenue of $943.56 million during 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 firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. As a group, research analysts expect that ChampionX Co. will post 1.95 earnings per share for the current year.

ChampionX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.07%. 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 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.