ChampionX Co. (NASDAQ:CHX) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in shares of ChampionX Co. (NASDAQ:CHX) by 40.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,004 shares of the company’s stock after selling 30,666 shares during the quarter. Thrivent Financial for Lutherans’ holdings in ChampionX were worth $1,528,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CHX. Vanguard Group Inc. raised its stake in ChampionX by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 20,033,091 shares of the company’s stock worth $585,167,000 after purchasing an additional 62,967 shares during the period. Congress Asset Management Co. MA raised its stake in ChampionX by 2.1% during the first quarter. Congress Asset Management Co. MA now owns 3,991,117 shares of the company’s stock worth $143,241,000 after purchasing an additional 80,626 shares during the period. Bessemer Group Inc. raised its stake in ChampionX by 2.6% during the first quarter. Bessemer Group Inc. now owns 3,842,425 shares of the company’s stock worth $137,905,000 after purchasing an additional 99,100 shares during the period. Hawk Ridge Capital Management LP purchased a new position in ChampionX during the fourth quarter worth approximately $67,592,000. Finally, Fiera Capital Corp raised its stake in ChampionX by 1.2% during the second quarter. Fiera Capital Corp now owns 1,299,611 shares of the company’s stock worth $43,160,000 after purchasing an additional 15,326 shares during the period. Institutional investors and hedge funds own 98.99% of the company’s stock.

Analyst Ratings Changes

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 research note on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

ChampionX Stock Performance

Shares of CHX stock opened at $32.05 on Friday. The company’s fifty day simple moving average is $30.92 and its 200-day simple moving average is $32.91. ChampionX Co. has a 52 week low of $25.46 and a 52 week high of $39.95. 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 company has a market cap of $6.10 billion, a PE ratio of 17.42, a P/E/G ratio of 1.24 and a beta of 2.37.

ChampionX (NASDAQ:CHX) last issued its earnings results on Wednesday, July 24th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.11). ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The business had revenue of $893.30 million during the quarter, compared to analysts’ expectations of $954.91 million. During the same period in the prior year, the business posted $0.48 EPS. The business’s revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts anticipate that ChampionX Co. will post 1.99 EPS for the current year.

ChampionX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.19%. The ex-dividend date is Friday, October 4th. ChampionX’s dividend payout ratio (DPR) 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.