ChampionX Co. (NASDAQ:CHX) Stock Holdings Lessened by Hancock Whitney Corp

Hancock Whitney Corp reduced its stake in shares of ChampionX Co. (NASDAQ:CHX) by 2.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 20,589 shares of the company’s stock after selling 512 shares during the quarter. Hancock Whitney Corp’s holdings in ChampionX were worth $684,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in ChampionX by 6.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 526,091 shares of the company’s stock worth $18,881,000 after purchasing an additional 32,860 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in ChampionX in the first quarter worth approximately $587,000. Sei Investments Co. raised its position in ChampionX by 18.0% during the first quarter. Sei Investments Co. now owns 798,936 shares of the company’s stock valued at $28,674,000 after acquiring an additional 121,700 shares in the last quarter. Fisher Asset Management LLC lifted its stake in ChampionX by 7.2% in the fourth quarter. Fisher Asset Management LLC now owns 365,798 shares of the company’s stock valued at $10,685,000 after acquiring an additional 24,662 shares during the last quarter. Finally, Norden Group LLC grew its position in ChampionX by 2,033.3% in the first quarter. Norden Group LLC now owns 251,775 shares of the company’s stock worth $9,036,000 after acquiring an additional 239,973 shares in the last quarter. 98.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their price target on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, ChampionX currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

ChampionX Price Performance

Shares of ChampionX stock opened at $30.98 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 1.25 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $31.50 and a 200-day simple moving average of $33.00. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 1.13 and a beta of 2.37. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95.

ChampionX (NASDAQ:CHX) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.37 earnings per share (EPS) 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 net margin of 8.66% and a return on equity of 19.72%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $0.48 earnings per share. On average, sell-side analysts expect that ChampionX Co. will post 1.99 earnings per share for the current year.

ChampionX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, October 4th. ChampionX’s dividend payout ratio (DPR) is currently 20.65%.

About ChampionX

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.