Algert Global LLC Has $5.96 Million Holdings in ChampionX Co. (NASDAQ:CHX)

Algert Global LLC raised its holdings in ChampionX Co. (NASDAQ:CHX) by 272.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 179,395 shares of the company’s stock after acquiring an additional 131,206 shares during the period. Algert Global LLC owned about 0.09% of ChampionX worth $5,958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CHX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in ChampionX by 6.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 526,091 shares of the company’s stock valued at $18,881,000 after acquiring an additional 32,860 shares in the last quarter. Avantax Advisory Services Inc. acquired a new position in shares of ChampionX during the first quarter worth about $587,000. Sei Investments Co. boosted its position in shares of ChampionX by 18.0% during the first quarter. Sei Investments Co. now owns 798,936 shares of the company’s stock worth $28,674,000 after buying an additional 121,700 shares during the period. Fisher Asset Management LLC grew its holdings in shares of ChampionX by 7.2% during the fourth quarter. Fisher Asset Management LLC now owns 365,798 shares of the company’s stock worth $10,685,000 after buying an additional 24,662 shares in the last quarter. Finally, Norden Group LLC raised its position in ChampionX by 2,033.3% in the 1st quarter. Norden Group LLC now owns 251,775 shares of the company’s stock valued at $9,036,000 after buying an additional 239,973 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler decreased their price target on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $39.00.

ChampionX Price Performance

Shares of NASDAQ CHX opened at $30.30 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.99 and a quick ratio of 1.25. The business has a 50-day moving average of $31.14 and a 200-day moving average of $32.95. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.24 and a beta of 2.37. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.11). ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The company had revenue of $893.30 million during the quarter, compared to the consensus estimate of $954.91 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that ChampionX Co. will post 1.99 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.25%. ChampionX’s payout ratio is 20.65%.

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.