Stifel Financial Corp Raises Position in ChampionX Co. (NASDAQ:CHX)

Stifel Financial Corp lifted its stake in shares of ChampionX Co. (NASDAQ:CHX) by 3.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 153,756 shares of the company’s stock after acquiring an additional 5,833 shares during the quarter. Stifel Financial Corp owned 0.08% of ChampionX worth $4,636,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its stake 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 acquiring an additional 1,084 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of ChampionX during the 2nd quarter worth $68,000. UMB Bank n.a. grew its stake in shares of ChampionX by 63.7% during the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after purchasing an additional 882 shares in the last quarter. KBC Group NV increased its holdings in ChampionX by 18.3% in the third quarter. KBC Group NV now owns 5,827 shares of the company’s stock valued at $176,000 after buying an additional 903 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in ChampionX in the second quarter valued at $194,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Citigroup dropped their price objective on ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 14th.

ChampionX Trading Down 2.2 %

Shares of ChampionX stock opened at $28.49 on Monday. The company has a fifty day simple moving average of $30.26 and a 200-day simple moving average of $31.16. ChampionX Co. has a 12-month low of $25.46 and a 12-month high of $39.95. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 17.70 and a beta of 2.38.

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

ChampionX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX’s payout ratio is currently 23.60%.

Insider Transactions at ChampionX

In related 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 position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.38% of the company’s stock.

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.