ChampionX Co. (NASDAQ:CHX) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lowered its holdings in ChampionX Co. (NASDAQ:CHX) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,429 shares of the company’s stock after selling 1,909 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in ChampionX were worth $3,174,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norden Group LLC increased its holdings in shares of ChampionX by 41.5% in the 1st quarter. Norden Group LLC now owns 16,700 shares of the company’s stock worth $599,000 after acquiring an additional 4,898 shares during the period. Vest Financial LLC bought a new stake in shares of ChampionX in the 1st quarter worth approximately $919,000. Allspring Global Investments Holdings LLC bought a new stake in shares of ChampionX in the 1st quarter worth approximately $27,000. Benjamin Edwards Inc. increased its position in shares of ChampionX by 47.5% in the first quarter. Benjamin Edwards Inc. now owns 10,765 shares of the company’s stock worth $386,000 after acquiring an additional 3,467 shares in the last quarter. Finally, Narwhal Capital Management increased its position in shares of ChampionX by 21.0% in the first quarter. Narwhal Capital Management now owns 164,449 shares of the company’s stock worth $5,902,000 after acquiring an additional 28,526 shares in the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

ChampionX Stock Up 2.4 %

Shares of NASDAQ:CHX opened at $32.58 on Friday. ChampionX Co. has a 12 month low of $25.46 and a 12 month high of $39.95. The company’s 50-day moving average price is $32.64 and its two-hundred day moving average price is $31.96. The company has a quick ratio of 1.16, a current ratio of 1.83 and a debt-to-equity ratio of 0.35. The firm has a market cap of $6.20 billion, a P/E ratio of 17.71, a P/E/G ratio of 1.34 and a beta of 2.41.

ChampionX (NASDAQ:CHX) last released its earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. The company had revenue of $922.14 million for the quarter, compared to the consensus estimate of $922.13 million. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. As a group, research analysts forecast that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Friday, July 5th. ChampionX’s dividend payout ratio is currently 20.65%.

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.