ChampionX Co. (NASDAQ:CHX) Stock Holdings Increased by Ameriprise Financial Inc.

Ameriprise Financial Inc. increased its holdings in ChampionX Co. (NASDAQ:CHX) by 10.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,340 shares of the company’s stock after purchasing an additional 21,747 shares during the quarter. Ameriprise Financial Inc. owned 0.12% of ChampionX worth $6,018,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CHX. Norges Bank bought a new stake in shares of ChampionX in the 4th quarter worth approximately $74,032,000. Calamos Advisors LLC increased its position in shares of ChampionX by 470.4% in the fourth quarter. Calamos Advisors LLC now owns 1,494,500 shares of the company’s stock worth $40,635,000 after acquiring an additional 1,232,500 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of ChampionX by 135.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,467,451 shares of the company’s stock worth $39,900,000 after acquiring an additional 844,301 shares in the last quarter. Birnam Oak Advisors LP purchased a new position in shares of ChampionX in the fourth quarter worth approximately $17,037,000. Finally, Alpine Associates Management Inc. increased its position in shares of ChampionX by 63.5% in the fourth quarter. Alpine Associates Management Inc. now owns 1,182,716 shares of the company’s stock worth $32,158,000 after acquiring an additional 459,200 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lifted their target price on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, May 5th.

ChampionX Stock Performance

ChampionX stock opened at $24.48 on Friday. The firm’s 50 day simple moving average is $25.97 and its 200-day simple moving average is $28.07. The company has a market cap of $4.69 billion, a P/E ratio of 14.84 and a beta of 1.52. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36. ChampionX Co. has a fifty-two week low of $21.92 and a fifty-two week high of $35.94.

ChampionX (NASDAQ:CHX) last released its earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.09. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. The business had revenue of $864.46 million for the quarter, compared to the consensus estimate of $900.59 million. During the same period last year, the firm posted $0.50 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts predict that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, July 3rd. ChampionX’s payout ratio is presently 25.17%.

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.