Meeder Advisory Services Inc. Has $217,000 Stock Position in ChampionX Co. (NASDAQ:CHX)

Meeder Advisory Services Inc. grew its stake in shares of ChampionX Co. (NASDAQ:CHX) by 16.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,531 shares of the company’s stock after buying an additional 918 shares during the quarter. Meeder Advisory Services Inc.’s holdings in ChampionX were worth $217,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CHX. DekaBank Deutsche Girozentrale bought a new stake in shares of ChampionX during the second quarter worth about $68,000. Cornercap Investment Counsel Inc. bought a new stake in ChampionX during the 2nd quarter worth approximately $536,000. Headlands Technologies LLC acquired a new position in ChampionX in the 2nd quarter valued at approximately $2,140,000. Texas Permanent School Fund Corp raised its stake in shares of ChampionX by 26.0% during the second quarter. Texas Permanent School Fund Corp now owns 210,747 shares of the company’s stock valued at $6,999,000 after acquiring an additional 43,498 shares during the last quarter. Finally, Choreo LLC acquired a new position in shares of ChampionX during the second quarter worth $225,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

ChampionX Stock Up 1.6 %

ChampionX stock opened at $29.06 on Tuesday. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.13 and a beta of 2.37. ChampionX Co. has a 52-week low of $25.46 and a 52-week high of $39.95. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.25 and a current ratio of 1.99. The firm has a 50 day moving average price of $31.71 and a two-hundred day moving average price of $33.04.

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

ChampionX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a dividend of $0.095 per share. The ex-dividend date is Friday, October 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.31%. ChampionX’s payout ratio is 20.65%.

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.