ChampionX Co. (NASDAQ:CHX) Stake Lifted by Assetmark Inc.

Assetmark Inc. increased its position in shares of ChampionX Co. (NASDAQ:CHX) by 8.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,748 shares of the company’s stock after purchasing an additional 4,058 shares during the period. Assetmark Inc.’s holdings in ChampionX were worth $1,500,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of ChampionX during the 1st quarter valued at about $27,000. Blue Trust Inc. grew its position in ChampionX by 442.4% in the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock worth $44,000 after buying an additional 1,084 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of ChampionX in the second quarter valued at $68,000. UMB Bank n.a. lifted its position in shares of ChampionX by 63.7% during the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after acquiring an additional 882 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of ChampionX during the 2nd quarter valued at $194,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Citigroup cut their target price on ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday.

ChampionX Stock Performance

ChampionX stock opened at $30.88 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 company has a market cap of $5.88 billion, a P/E ratio of 19.18 and a beta of 2.38. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95. The firm’s 50 day simple moving average is $30.18 and its 200-day simple moving average is $31.70.

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

ChampionX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, October 4th. ChampionX’s dividend payout ratio (DPR) is 23.60%.

Insider Buying and Selling

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total value of $1,482,048.18. Following the transaction, the insider now owns 337,409 shares in the company, valued at $10,142,514.54. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.38% of the stock is currently owned by corporate insiders.

ChampionX Company 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.