Sanctuary Advisors LLC Sells 9,078 Shares of ChampionX Co. (NASDAQ:CHX)

Sanctuary Advisors LLC decreased its holdings in ChampionX Co. (NASDAQ:CHX) by 48.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,565 shares of the company’s stock after selling 9,078 shares during the period. Sanctuary Advisors LLC’s holdings in ChampionX were worth $299,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CHX. Nisa Investment Advisors LLC lifted its holdings 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 worth $637,000 after buying an additional 487 shares in the last quarter. HighTower Advisors LLC lifted its stake in ChampionX by 4.3% in the 3rd quarter. HighTower Advisors LLC now owns 13,621 shares of the company’s stock worth $405,000 after purchasing an additional 564 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in ChampionX by 6.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 9,625 shares of the company’s stock valued at $290,000 after purchasing an additional 594 shares during the period. PNC Financial Services Group Inc. grew its position in shares of ChampionX by 1.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 54,454 shares of the company’s stock valued at $1,642,000 after purchasing an additional 772 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of ChampionX by 63.7% in the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after purchasing an additional 882 shares during the period. Institutional investors own 98.99% of the company’s stock.

ChampionX Trading Down 0.1 %

Shares of CHX opened at $26.64 on Friday. 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. The company has a market capitalization of $5.07 billion, a P/E ratio of 16.55 and a beta of 2.38. The firm’s 50 day simple moving average is $29.32 and its 200 day simple moving average is $30.83.

ChampionX (NASDAQ:CHX) last released its quarterly 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). ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The firm had revenue of $906.53 million for the quarter, compared to analysts’ expectations of $916.50 million. During the same quarter in the previous year, the business earned $0.41 EPS. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. Sell-side analysts forecast that ChampionX Co. will post 1.66 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be paid a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX’s dividend payout ratio is currently 23.60%.

Insider Buying and Selling at ChampionX

In other news, insider Deric D. Bryant sold 49,303 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total value of $1,482,048.18. Following the completion of the sale, the insider now owns 337,409 shares of the company’s stock, valued at approximately $10,142,514.54. The trade was a 12.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup dropped their price objective 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 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.