235,566 Shares in ChampionX Co. (NASDAQ:CHX) Purchased by Wellington Management Group LLP

Wellington Management Group LLP acquired a new position in shares of ChampionX Co. (NASDAQ:CHX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 235,566 shares of the company’s stock, valued at approximately $6,881,000. Wellington Management Group LLP owned approximately 0.12% of ChampionX as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Brown Advisory Inc. grew its holdings in shares of ChampionX by 1.8% during the fourth quarter. Brown Advisory Inc. now owns 6,364,676 shares of the company’s stock worth $185,912,000 after buying an additional 110,956 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of ChampionX by 11.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,433,718 shares of the company’s stock valued at $100,305,000 after buying an additional 349,035 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of ChampionX by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,466,830 shares of the company’s stock valued at $72,056,000 after buying an additional 40,423 shares in the last quarter. Hawk Ridge Capital Management LP acquired a new position in ChampionX during the fourth quarter worth $67,592,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in ChampionX by 1.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,598,635 shares of the company’s stock worth $46,696,000 after acquiring an additional 24,854 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors.

ChampionX Price Performance

Shares of NASDAQ CHX opened at $33.21 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $32.96 and a two-hundred day simple moving average of $31.82. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.35 and a beta of 2.39.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The business had revenue of $922.14 million for the quarter, compared to analysts’ expectations of $922.13 million. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. Analysts anticipate that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.38 dividend on an annualized basis and a yield of 1.14%. ChampionX’s payout ratio is 20.65%.

Analyst Ratings Changes

Several analysts have issued reports on CHX shares. Barclays upped their price objective on ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Citigroup raised their price target on ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Finally, Piper Sandler upped their price objective on shares of ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.33.

About ChampionX

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.