Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,011 Shares of ChampionX Co. (NASDAQ:CHX)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ChampionX Co. (NASDAQ:CHX) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,952 shares of the company’s stock after acquiring an additional 1,011 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ChampionX were worth $1,295,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CHX. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of ChampionX by 18.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 295,105 shares of the company’s stock valued at $8,897,000 after acquiring an additional 45,105 shares in the last quarter. Quantbot Technologies LP acquired a new stake in ChampionX in the third quarter worth $2,054,000. Fisher Asset Management LLC grew its holdings in ChampionX by 7.7% in the third quarter. Fisher Asset Management LLC now owns 347,880 shares of the company’s stock worth $10,489,000 after purchasing an additional 24,862 shares during the period. Westfield Capital Management Co. LP increased its stake in ChampionX by 4.6% in the third quarter. Westfield Capital Management Co. LP now owns 1,133,863 shares of the company’s stock valued at $34,186,000 after purchasing an additional 50,120 shares in the last quarter. Finally, Algert Global LLC raised its holdings in shares of ChampionX by 5.0% during the third quarter. Algert Global LLC now owns 188,309 shares of the company’s stock valued at $5,678,000 after purchasing an additional 8,914 shares during the period. 98.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

ChampionX Stock Performance

NASDAQ CHX opened at $29.73 on Friday. 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 company has a fifty day simple moving average of $30.53 and a 200 day simple moving average of $31.37. ChampionX Co. has a 12-month low of $25.46 and a 12-month high of $39.95. The company has a market cap of $5.66 billion, a P/E ratio of 18.47 and a beta of 2.38.

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

ChampionX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be issued a $0.095 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.28%. ChampionX’s dividend payout ratio is presently 23.60%.

Insider Activity at ChampionX

In related news, insider Deric D. Bryant sold 49,303 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.38% of the stock is owned by 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.