Wealth Enhancement Advisory Services LLC Grows Stock Position in ChampionX Co. (NASDAQ:CHX)

Wealth Enhancement Advisory Services LLC lifted its position in shares of ChampionX Co. (NASDAQ:CHX) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,399 shares of the company’s stock after acquiring an additional 872 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in ChampionX were worth $609,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jefferies Financial Group Inc. purchased a new stake in ChampionX in the 4th quarter worth about $549,000. Parr Mcknight Wealth Management Group LLC acquired a new position in ChampionX in the fourth quarter worth $308,000. GTS Securities LLC bought a new stake in shares of ChampionX during the fourth quarter worth $291,000. CSS LLC IL increased its holdings in ChampionX by 11.2% in the fourth quarter. CSS LLC IL now owns 39,649 shares of the company’s stock valued at $1,078,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its stake in ChampionX by 468.1% in the fourth quarter. Voloridge Investment Management LLC now owns 194,502 shares of the company’s stock valued at $5,289,000 after acquiring an additional 160,263 shares during the period. 98.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

ChampionX Trading Up 0.3%

NASDAQ:CHX opened at $26.17 on Thursday. The firm’s 50 day moving average is $24.80 and its 200 day moving average is $27.51. The stock has a market capitalization of $5.01 billion, a PE ratio of 15.86 and a beta of 1.51. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32. ChampionX Co. has a 12 month low of $21.92 and a 12 month high of $35.94.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 EPS for the quarter, beating 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 firm had revenue of $864.46 million during the quarter, compared to the consensus estimate of $900.59 million. During the same period in the prior year, the firm posted $0.50 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. Sell-side analysts expect that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, July 3rd. ChampionX’s dividend payout ratio is currently 25.17%.

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.