ChampionX Co. (NASDAQ:CHX) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC lifted its position in ChampionX Co. (NASDAQ:CHX) by 17.7% in the fourth quarter, Holdings Channel reports. The firm owned 25,053 shares of the company’s stock after acquiring an additional 3,765 shares during the period. Jennison Associates LLC’s holdings in ChampionX were worth $732,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CHX. Teachers Retirement System of The State of Kentucky lifted its position in ChampionX by 91.0% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 68,526 shares of the company’s stock worth $2,441,000 after acquiring an additional 32,657 shares during the period. Seven Eight Capital LP acquired a new stake in ChampionX during the 3rd quarter worth approximately $250,000. Prudential PLC acquired a new stake in ChampionX during the 3rd quarter worth approximately $788,000. Congress Asset Management Co. MA lifted 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 acquiring an additional 2,222,224 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH lifted 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 acquiring an additional 204,640 shares during the period. 98.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

ChampionX Stock Performance

Shares of CHX stock opened at $34.86 on Friday. The company has a market cap of $6.66 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 1.11 and a beta of 2.44. The stock has a 50 day simple moving average of $34.26 and a 200-day simple moving average of $31.16. ChampionX Co. has a 12-month low of $24.98 and a 12-month high of $39.95. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.35.

ChampionX (NASDAQ:CHX) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.10. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. The firm had revenue of $922.14 million during the quarter, compared to the consensus estimate of $922.13 million. On average, equities analysts forecast that ChampionX Co. will post 1.95 EPS for the current year.

ChampionX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 5th were paid a $0.095 dividend. This is an increase from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Thursday, April 4th. ChampionX’s dividend payout ratio (DPR) is presently 20.65%.

Insider Activity at ChampionX

In related 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 stock was sold at an average price of $36.00, for a total value 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.38% of the stock is currently owned by company insiders.

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.