GAMMA Investing LLC Boosts Stock Position in ChampionX Co. (NASDAQ:CHX)

GAMMA Investing LLC boosted its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 2,693.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,724 shares of the company’s stock after purchasing an additional 29,624 shares during the quarter. GAMMA Investing LLC’s holdings in ChampionX were worth $916,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CHX. Jones Financial Companies Lllp increased its holdings in shares of ChampionX by 153.2% in the 4th quarter. Jones Financial Companies Lllp now owns 924 shares of the company’s stock valued at $25,000 after acquiring an additional 559 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of ChampionX by 1,051.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock valued at $51,000 after acquiring an additional 1,725 shares during the last quarter. Vestcor Inc increased its holdings in shares of ChampionX by 71.6% in the 4th quarter. Vestcor Inc now owns 5,032 shares of the company’s stock valued at $137,000 after acquiring an additional 2,100 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of ChampionX by 82,557.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company’s stock valued at $157,000 after acquiring an additional 5,779 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of ChampionX in the 4th quarter valued at approximately $205,000. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

ChampionX Price Performance

Shares of CHX opened at $26.40 on Tuesday. The company has a market cap of $5.05 billion, a P/E ratio of 16.00 and a beta of 1.51. The stock has a fifty day moving average price of $25.01 and a 200 day moving average price of $27.37. 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 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, topping analysts’ consensus estimates of $0.41 by $0.09. The firm had revenue of $864.46 million during the quarter, compared to the consensus estimate of $900.59 million. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 EPS. On average, research analysts forecast that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued a $0.095 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.38 annualized dividend and a dividend yield of 1.44%. ChampionX’s dividend payout ratio (DPR) is 25.17%.

Wall Street Analysts Forecast Growth

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

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.