Private Advisor Group LLC Decreases Stake in ChampionX Co. (NASDAQ:CHX)

Private Advisor Group LLC decreased its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 13.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,879 shares of the company’s stock after selling 1,405 shares during the quarter. Private Advisor Group LLC’s holdings in ChampionX were worth $268,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CHX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of 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 worth $18,881,000 after acquiring an additional 32,860 shares during the last quarter. Avantax Advisory Services Inc. purchased a new position in ChampionX during the first quarter worth about $587,000. Sei Investments Co. boosted its holdings in ChampionX by 18.0% in the 1st quarter. Sei Investments Co. now owns 798,936 shares of the company’s stock valued at $28,674,000 after purchasing an additional 121,700 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in shares of ChampionX in the 1st quarter valued at approximately $1,052,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of ChampionX during the 2nd quarter worth approximately $623,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

ChampionX Price Performance

ChampionX stock opened at $30.86 on Friday. The company’s 50 day simple moving average is $30.08 and its 200-day simple moving average is $31.83. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of 19.17 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last announced its earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The firm had revenue of $906.53 million during the quarter, compared to analysts’ expectations of $916.50 million. During the same period in the previous year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities research analysts expect that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.23%. The ex-dividend date was Friday, October 4th. ChampionX’s dividend payout ratio is currently 23.60%.

Analyst Ratings Changes

Separately, Piper Sandler lowered their price objective on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, July 15th.

Insiders Place Their Bets

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the sale, the insider now directly owns 337,409 shares in the company, valued at $10,142,514.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.38% of the company’s stock.

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.