Prudential Financial Inc. Decreases Stake in ChampionX Co. (NASDAQ:CHX)

Prudential Financial Inc. cut its stake in ChampionX Co. (NASDAQ:CHX) by 24.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,024 shares of the company’s stock after selling 6,108 shares during the period. Prudential Financial Inc.’s holdings in ChampionX were worth $517,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of ChampionX by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 19,964,329 shares of the company’s stock worth $542,830,000 after acquiring an additional 227,627 shares during the period. KLP Kapitalforvaltning AS purchased a new position in ChampionX in the fourth quarter worth about $1,071,000. Sei Investments Co. raised its stake in shares of ChampionX by 6.9% in the fourth quarter. Sei Investments Co. now owns 776,535 shares of the company’s stock valued at $21,114,000 after acquiring an additional 49,885 shares during the period. Virtu Financial LLC bought a new stake in ChampionX in the fourth quarter worth about $1,628,000. Finally, Quantbot Technologies LP boosted its stake in shares of ChampionX by 82.2% during the fourth quarter. Quantbot Technologies LP now owns 124,139 shares of the company’s stock valued at $3,375,000 after purchasing an additional 56,001 shares during the period. Institutional investors own 98.99% of the company’s stock.

ChampionX Price Performance

NASDAQ CHX opened at $25.35 on Thursday. ChampionX Co. has a 52-week low of $21.92 and a 52-week high of $39.00. The company has a market cap of $4.84 billion, a PE ratio of 15.36 and a beta of 1.81. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99. The firm’s 50 day moving average price is $28.69 and its 200-day moving average price is $29.24.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. Sell-side analysts forecast that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.50%. The ex-dividend date is Friday, April 4th. ChampionX’s dividend payout ratio is currently 23.03%.

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.