Strs Ohio Sells 4,000 Shares of ChampionX Co. (NASDAQ:CHX)

Strs Ohio decreased its position in shares of ChampionX Co. (NASDAQ:CHX) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,900 shares of the company’s stock after selling 4,000 shares during the quarter. Strs Ohio’s holdings in ChampionX were worth $1,486,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased 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 acquiring an additional 126,529 shares in the last quarter. Vanguard Group Inc. increased 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 acquiring an additional 132,397 shares in the last quarter. Alliancebernstein L.P. grew its holdings in ChampionX by 13.7% during the second quarter. Alliancebernstein L.P. now owns 8,184,487 shares of the company’s stock worth $254,046,000 after buying an additional 988,872 shares in the last quarter. State Street Corp grew its holdings in ChampionX by 6.1% during the first quarter. State Street Corp now owns 7,422,065 shares of the company’s stock worth $201,357,000 after buying an additional 426,656 shares in the last quarter. Finally, FMR LLC grew its holdings in ChampionX by 20.2% during the third quarter. FMR LLC now owns 7,109,432 shares of the company’s stock worth $253,238,000 after buying an additional 1,193,122 shares in the last quarter. Institutional investors own 98.99% of the company’s stock.

Wall Street Analyst Weigh In

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

ChampionX Stock Down 2.1 %

Shares of NASDAQ:CHX opened at $35.53 on Monday. The company has a market capitalization of $6.79 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 1.12 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 price of $33.69 and a two-hundred day moving average price of $31.10. ChampionX Co. has a 1 year low of $24.98 and a 1 year high of $39.95.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $943.56 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. Analysts forecast that ChampionX Co. will post 1.95 earnings per share for the current year.

ChampionX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Thursday, April 4th. This is a boost from ChampionX’s previous quarterly dividend of $0.09. ChampionX’s dividend payout ratio is currently 24.20%.

Insider Activity

In other news, insider William Jr. O’dell sold 27,178 shares of the company’s 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 transaction, the insider now owns 57,748 shares of the company’s stock, valued at approximately $2,078,928. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.38% of the company’s stock.

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.