Natixis Advisors LLC Trims Stock Position in ChampionX Co. (NASDAQ:CHX)

Natixis Advisors LLC reduced its stake in shares of ChampionX Co. (NASDAQ:CHX) by 6.9% during the third quarter, Holdings Channel reports. The firm owned 175,827 shares of the company’s stock after selling 13,049 shares during the quarter. Natixis Advisors LLC’s holdings in ChampionX were worth $5,301,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CHX. Millennium Management LLC increased its position in ChampionX by 12,607.0% during the 2nd quarter. Millennium Management LLC now owns 3,120,847 shares of the company’s stock valued at $103,643,000 after purchasing an additional 3,096,287 shares during the period. Magnetar Financial LLC purchased a new position in ChampionX during the 2nd quarter valued at $72,860,000. Water Island Capital LLC purchased a new position in ChampionX during the 2nd quarter valued at $35,384,000. Squarepoint Ops LLC purchased a new position in ChampionX during the 2nd quarter valued at $21,669,000. Finally, Renaissance Technologies LLC purchased a new position in ChampionX during the 2nd quarter valued at $20,677,000. 98.99% of the stock is owned by hedge funds and other institutional investors.

ChampionX Stock Down 0.1 %

NASDAQ:CHX opened at $31.24 on Friday. The firm’s 50-day moving average price is $30.46 and its 200-day moving average price is $31.58. The company has a market capitalization of $5.95 billion, a PE ratio of 19.40 and a beta of 2.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.20. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95.

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

ChampionX Announces Dividend

The company also recently declared 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 yield of 1.22%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX’s payout ratio is 23.60%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, insider Deric D. Bryant sold 49,303 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total value of $1,482,048.18. Following the transaction, the insider now owns 337,409 shares in the company, valued at $10,142,514.54. The trade was a 12.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.38% of the stock is currently owned by company insiders.

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.