Quest Partners LLC Purchases 36,962 Shares of ChampionX Co. (NASDAQ:CHX)

Quest Partners LLC grew its holdings in ChampionX Co. (NASDAQ:CHX) by 99,897.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,999 shares of the company’s stock after acquiring an additional 36,962 shares during the quarter. Quest Partners LLC’s holdings in ChampionX were worth $1,229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Trium Capital LLP acquired a new position in ChampionX in the 2nd quarter valued at $697,000. Narwhal Capital Management lifted its position in ChampionX by 1.7% during the second quarter. Narwhal Capital Management now owns 167,172 shares of the company’s stock worth $5,552,000 after purchasing an additional 2,723 shares during the period. Mesirow Institutional Investment Management Inc. lifted its position in ChampionX by 1.0% during the second quarter. Mesirow Institutional Investment Management Inc. now owns 428,598 shares of the company’s stock worth $14,234,000 after purchasing an additional 4,174 shares during the period. Wolverine Asset Management LLC acquired a new stake in ChampionX during the second quarter worth about $2,738,000. Finally, Fiera Capital Corp increased its holdings in ChampionX by 1.2% in the 2nd quarter. Fiera Capital Corp now owns 1,299,611 shares of the company’s stock valued at $43,160,000 after buying an additional 15,326 shares during the period. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lowered their price target on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ChampionX presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

ChampionX Trading Down 0.2 %

CHX opened at $28.81 on Tuesday. The stock has a market cap of $5.49 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 1.16 and a beta of 2.37. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.34. ChampionX Co. has a twelve month low of $25.46 and a twelve month high of $39.95. The company has a fifty day moving average of $32.15 and a 200-day moving average of $33.13.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.11). The company had revenue of $893.30 million for the quarter, compared to analyst estimates of $954.91 million. ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business earned $0.48 EPS. On average, sell-side analysts predict that ChampionX Co. will post 1.99 EPS for the current year.

ChampionX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, October 4th. ChampionX’s 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.