Norden Group LLC Grows Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Norden Group LLC increased its stake in ChampionX Co. (NASDAQ:CHX) by 2,033.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 251,775 shares of the company’s stock after buying an additional 239,973 shares during the period. Norden Group LLC owned 0.13% of ChampionX worth $9,036,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. raised its holdings in ChampionX by 3.5% in the 1st quarter. Legend Financial Advisors Inc. now owns 21,132 shares of the company’s stock worth $758,000 after acquiring an additional 720 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of ChampionX in the first quarter worth $27,000. Quadrant Capital Group LLC lifted its holdings in shares of ChampionX by 37.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company’s stock valued at $89,000 after purchasing an additional 831 shares in the last quarter. Benjamin Edwards Inc. boosted its position in shares of ChampionX by 14.6% during the fourth quarter. Benjamin Edwards Inc. now owns 7,298 shares of the company’s stock valued at $213,000 after buying an additional 927 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in ChampionX in the 4th quarter worth about $26,000. Institutional investors own 98.99% of the company’s stock.

ChampionX Stock Performance

CHX opened at $33.37 on Thursday. ChampionX Co. has a 12-month low of $25.46 and a 12-month high of $39.95. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 1.37 and a beta of 2.41. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $32.85 and its 200 day moving average is $31.90.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.10. The business had revenue of $922.14 million for the quarter, compared to analysts’ expectations of $922.13 million. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. On average, equities research analysts predict that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Friday, July 5th. ChampionX’s dividend payout ratio is presently 20.65%.

Analyst Ratings Changes

Several equities analysts have issued reports on CHX shares. Citigroup upped their target price on shares of ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Barclays lifted their target price on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Piper Sandler increased their price target on ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.33.

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.