DekaBank Deutsche Girozentrale Makes New Investment in ChampionX Co. (NASDAQ:CHX)

DekaBank Deutsche Girozentrale acquired a new stake in shares of ChampionX Co. (NASDAQ:CHX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,051 shares of the company’s stock, valued at approximately $68,000.

Other large investors have also recently modified their holdings of the company. Hawk Ridge Capital Management LP bought a new stake in ChampionX in the 4th quarter worth $67,592,000. Picton Mahoney Asset Management bought a new stake in shares of ChampionX in the second quarter worth about $19,442,000. Scout Investments Inc. purchased a new position in ChampionX during the 1st quarter valued at about $18,957,000. Norges Bank bought a new position in ChampionX during the 4th quarter valued at approximately $11,182,000. Finally, Heartland Advisors Inc. lifted its holdings in ChampionX by 661.9% in the 1st quarter. Heartland Advisors Inc. now owns 398,179 shares of the company’s stock worth $14,291,000 after buying an additional 345,915 shares during the period. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Stock Down 0.7 %

CHX stock opened at $30.54 on Friday. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 1.13 and a beta of 2.37. The business’s 50 day moving average price is $31.55 and its two-hundred day moving average price is $32.99. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.25 and a current ratio of 1.99.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.11). The firm had revenue of $893.30 million during the quarter, compared to the consensus estimate of $954.91 million. ChampionX had a return on equity of 19.72% and a net margin of 8.66%. ChampionX’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 EPS. As a group, analysts forecast that ChampionX Co. will post 1.99 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, October 4th. ChampionX’s dividend payout ratio is 20.65%.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped their price target on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

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.