Wealth Enhancement Advisory Services LLC Acquires 2,485 Shares of ChampionX Co. (NASDAQ:CHX)

Wealth Enhancement Advisory Services LLC raised its holdings in ChampionX Co. (NASDAQ:CHX) by 13.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,527 shares of the company’s stock after buying an additional 2,485 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in ChampionX were worth $649,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of ChampionX in the first quarter valued at about $27,000. Norden Group LLC raised its stake in shares of ChampionX by 41.5% in the first quarter. Norden Group LLC now owns 16,700 shares of the company’s stock valued at $599,000 after purchasing an additional 4,898 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in ChampionX by 3.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 41,534 shares of the company’s stock worth $1,491,000 after buying an additional 1,319 shares in the last quarter. Heartland Advisors Inc. increased its holdings in ChampionX by 661.9% in the 1st quarter. Heartland Advisors Inc. now owns 398,179 shares of the company’s stock valued at $14,291,000 after buying an additional 345,915 shares during the period. Finally, Sei Investments Co. raised its stake in shares of ChampionX by 18.0% in the 1st quarter. Sei Investments Co. now owns 798,936 shares of the company’s stock valued at $28,674,000 after buying an additional 121,700 shares in the last quarter. 98.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the sale, the insider now owns 337,409 shares of the company’s stock, valued at $10,142,514.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.38% of the stock is owned by corporate insiders.

ChampionX Stock Performance

Shares of NASDAQ:CHX opened at $30.86 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.20. The business’s fifty day moving average price is $30.08 and its two-hundred day moving average price is $31.83. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 19.17 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last posted its earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The firm had revenue of $906.53 million during the quarter, compared to the consensus estimate of $916.50 million. During the same period in the previous year, the company posted $0.41 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, analysts predict that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were issued a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Friday, October 4th. ChampionX’s payout ratio is currently 23.60%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler decreased their target price on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th.

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.