Legacy Wealth Asset Management LLC Sells 440 Shares of ChampionX Co. (NASDAQ:CHX)

Legacy Wealth Asset Management LLC cut its stake in ChampionX Co. (NASDAQ:CHX) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,173 shares of the company’s stock after selling 440 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in ChampionX were worth $616,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky raised its stake in shares of ChampionX by 91.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 68,526 shares of the company’s stock worth $2,441,000 after buying an additional 32,657 shares during the period. Seven Eight Capital LP purchased a new stake in shares of ChampionX in the third quarter worth $250,000. Westfield Capital Management Co. LP raised its position in shares of ChampionX by 27.3% during the 4th quarter. Westfield Capital Management Co. LP now owns 891,381 shares of the company’s stock valued at $26,037,000 after purchasing an additional 190,928 shares during the period. Fisher Asset Management LLC lifted its stake in shares of ChampionX by 7.2% during the 4th quarter. Fisher Asset Management LLC now owns 365,798 shares of the company’s stock valued at $10,685,000 after buying an additional 24,662 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in ChampionX by 24.4% in the 4th quarter. Stifel Financial Corp now owns 226,181 shares of the company’s stock worth $6,607,000 after buying an additional 44,300 shares during the period. 98.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

ChampionX Stock Up 1.1 %

Shares of CHX opened at $33.37 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.83 and a quick ratio of 1.16. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 1.38 and a beta of 2.41. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. The business’s 50 day simple moving average is $32.82 and its 200-day simple moving average is $31.91.

ChampionX (NASDAQ:CHX) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. The company had revenue of $922.14 million for the quarter, compared to the consensus estimate of $922.13 million. As a group, equities analysts expect that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

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

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.