State of Alaska Department of Revenue Grows Position in ChampionX Corporation (NASDAQ:CHX)

State of Alaska Department of Revenue grew its stake in shares of ChampionX Corporation (NASDAQ:CHX) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,323 shares of the company’s stock after purchasing an additional 600 shares during the quarter. State of Alaska Department of Revenue’s holdings in ChampionX were worth $665,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CHX. Norges Bank purchased a new position in ChampionX during the fourth quarter valued at $74,032,000. Adage Capital Partners GP L.L.C. increased its holdings in ChampionX by 135.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,467,451 shares of the company’s stock worth $39,900,000 after buying an additional 844,301 shares in the last quarter. Hudson Bay Capital Management LP increased its holdings in ChampionX by 186.2% in the 4th quarter. Hudson Bay Capital Management LP now owns 964,420 shares of the company’s stock worth $26,223,000 after buying an additional 627,426 shares in the last quarter. Birnam Oak Advisors LP bought a new stake in ChampionX in the 4th quarter worth about $17,037,000. Finally, Alpine Associates Management Inc. increased its holdings in ChampionX by 63.5% in the 4th quarter. Alpine Associates Management Inc. now owns 1,182,716 shares of the company’s stock worth $32,158,000 after buying an additional 459,200 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Stock Up 0.4%

CHX stock opened at $24.96 on Friday. ChampionX Corporation has a twelve month low of $21.92 and a twelve month high of $35.94. The company has a quick ratio of 1.62, a current ratio of 2.25 and a debt-to-equity ratio of 0.31. The stock has a market cap of $4.78 billion, a P/E ratio of 16.53, a PEG ratio of 4.88 and a beta of 1.51. The business’s 50-day moving average price is $25.14 and its 200-day moving average price is $27.12.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. ChampionX had a return on equity of 19.25% and a net margin of 8.20%. The firm had revenue of $864.46 million for the quarter, compared to analysts’ expectations of $900.59 million. During the same period in the previous year, the firm earned $0.50 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. On average, equities research analysts forecast that ChampionX Corporation will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.52%. ChampionX’s dividend payout ratio is presently 25.17%.

Wall Street Analysts Forecast Growth

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

ChampionX 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.