New York State Teachers Retirement System Cuts Position in ChampionX Corporation (NASDAQ:CHX)

New York State Teachers Retirement System decreased its position in ChampionX Corporation (NASDAQ:CHX) by 0.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 224,839 shares of the company’s stock after selling 2,125 shares during the quarter. New York State Teachers Retirement System owned 0.12% of ChampionX worth $6,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp grew its position in ChampionX by 153.2% in the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company’s stock worth $25,000 after acquiring an additional 559 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of ChampionX by 45.5% in the 1st quarter. UMB Bank n.a. now owns 3,097 shares of the company’s stock valued at $92,000 after purchasing an additional 969 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of ChampionX by 27.5% in the 1st quarter. Parallel Advisors LLC now owns 4,672 shares of the company’s stock valued at $139,000 after purchasing an additional 1,007 shares during the last quarter. Vestcor Inc boosted 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 worth $137,000 after purchasing an additional 2,100 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in shares of ChampionX by 82,557.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company’s stock valued at $157,000 after purchasing an additional 5,779 shares during the last quarter. 98.99% of the stock is owned by hedge funds and other institutional investors.

ChampionX Stock Performance

ChampionX stock opened at $26.14 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.25 and a quick ratio of 1.62. The firm has a market capitalization of $5.00 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 5.11 and a beta of 1.49. ChampionX Corporation has a 1-year low of $21.92 and a 1-year high of $35.94. The company’s 50-day moving average is $25.23 and its 200 day moving average is $27.05.

ChampionX (NASDAQ:CHX) last issued its quarterly 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 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 the consensus estimate of $900.59 million. During the same period in the prior year, the business posted $0.50 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Research analysts forecast that ChampionX Corporation will post 1.92 EPS for the current year.

ChampionX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.095 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.38 annualized dividend and a dividend yield of 1.45%. ChampionX’s dividend payout ratio (DPR) is 25.17%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus raised their price target 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.