ChampionX Co. (NASDAQ:CHX) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its position in shares of ChampionX Co. (NASDAQ:CHX) by 53.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,093 shares of the company’s stock after selling 51,293 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in ChampionX were worth $1,498,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CHX. Allspring Global Investments Holdings LLC purchased a new position in ChampionX during the 1st quarter worth approximately $27,000. Rise Advisors LLC acquired a new position in ChampionX during the first quarter valued at $35,000. DekaBank Deutsche Girozentrale purchased a new stake in ChampionX in the second quarter valued at $68,000. Quadrant Capital Group LLC grew its position in ChampionX by 37.6% during the 4th quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company’s stock worth $89,000 after purchasing an additional 831 shares during the period. Finally, Principal Securities Inc. purchased a new position in shares of ChampionX during the 4th quarter valued at about $91,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Trading Down 0.2 %

Shares of ChampionX stock opened at $29.83 on Thursday. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.25 and a current ratio of 1.99. The company has a market cap of $5.68 billion, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 1.13 and a beta of 2.37. The firm has a 50-day simple moving average of $31.67 and a two-hundred day simple moving average of $33.03.

ChampionX (NASDAQ:CHX) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.11). ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The business had revenue of $893.30 million during the quarter, compared to analyst estimates of $954.91 million. During the same period in the previous year, the company posted $0.48 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts predict that ChampionX Co. will post 1.99 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.38 annualized dividend and a yield of 1.27%. ChampionX’s dividend payout ratio (DPR) is currently 20.65%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their target price on ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.00.

ChampionX Company 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.