Cornercap Investment Counsel Inc. Sells 8,105 Shares of ChampionX Co. (NASDAQ:CHX)

Cornercap Investment Counsel Inc. lessened its holdings in ChampionX Co. (NASDAQ:CHX) by 50.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,049 shares of the company’s stock after selling 8,105 shares during the period. Cornercap Investment Counsel Inc.’s holdings in ChampionX were worth $243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CHX. Legend Financial Advisors Inc. increased its position in ChampionX by 1.6% during the second quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company’s stock worth $713,000 after acquiring an additional 340 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of ChampionX by 2.4% in the third quarter. Nisa Investment Advisors LLC now owns 21,126 shares of the company’s stock valued at $637,000 after buying an additional 487 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of ChampionX in the first quarter valued at approximately $27,000. UMB Bank n.a. grew its position in ChampionX by 63.7% during the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after buying an additional 882 shares in the last quarter. Finally, KBC Group NV increased its stake in ChampionX by 18.3% during the 3rd quarter. KBC Group NV now owns 5,827 shares of the company’s stock worth $176,000 after acquiring an additional 903 shares during the period. 98.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Citigroup reduced their price objective on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th.

ChampionX Stock Up 0.8 %

CHX stock opened at $30.87 on Tuesday. The stock has a market capitalization of $5.88 billion, a P/E ratio of 19.17 and a beta of 2.38. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $30.25 and a 200-day moving average price of $31.63. ChampionX Co. has a 12 month low of $25.46 and a 12 month high of $39.95.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The firm had revenue of $906.53 million for the quarter, compared to analyst estimates of $916.50 million. ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 earnings per share. As a group, equities research analysts anticipate that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX’s dividend payout ratio is currently 23.60%.

Insider Activity at ChampionX

In related news, insider Deric D. Bryant sold 49,303 shares of ChampionX stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the completion of the transaction, the insider now owns 337,409 shares of the company’s stock, valued at $10,142,514.54. This trade represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.38% of the stock is currently owned by company insiders.

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.