Cerity Partners LLC Sells 55,188 Shares of ChampionX Corporation (NASDAQ:CHX)

Cerity Partners LLC cut its stake in ChampionX Corporation (NASDAQ:CHX) by 47.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,191 shares of the company’s stock after selling 55,188 shares during the period. Cerity Partners LLC’s holdings in ChampionX were worth $1,794,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CHX. UMB Bank n.a. raised its stake in shares of ChampionX by 45.5% in the first quarter. UMB Bank n.a. now owns 3,097 shares of the company’s stock worth $92,000 after acquiring an additional 969 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of ChampionX by 27.5% in the first quarter. Parallel Advisors LLC now owns 4,672 shares of the company’s stock worth $139,000 after acquiring an additional 1,007 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of ChampionX by 82,557.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company’s stock worth $157,000 after acquiring an additional 5,779 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of ChampionX in the fourth quarter worth about $205,000. Finally, Freestone Grove Partners LP bought a new stake in shares of ChampionX during the fourth quarter worth approximately $230,000. 98.99% of the stock is owned by institutional investors.

ChampionX Stock Performance

CHX opened at $25.81 on Monday. 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 company has a market cap of $4.94 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 5.04 and a beta of 1.49. The firm has a 50 day simple moving average of $25.58 and a 200 day simple moving average of $27.04. ChampionX Corporation has a fifty-two week low of $21.92 and a fifty-two week high of $35.68.

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

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, July 3rd. ChampionX’s payout ratio is presently 25.17%.

Analysts Set New Price Targets

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

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.