622,616 Shares in ChampionX Co. (NASDAQ:CHX) Bought by Renaissance Technologies LLC

Renaissance Technologies LLC bought a new position in shares of ChampionX Co. (NASDAQ:CHX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 622,616 shares of the company’s stock, valued at approximately $20,677,000. Renaissance Technologies LLC owned 0.33% of ChampionX at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Legend Financial Advisors Inc. increased its position in ChampionX by 1.6% during the second quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company’s stock worth $713,000 after acquiring an additional 340 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in ChampionX during the first quarter worth $27,000. Mendota Financial Group LLC boosted its stake in ChampionX by 19.3% during the first quarter. Mendota Financial Group LLC now owns 4,648 shares of the company’s stock worth $167,000 after buying an additional 751 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in ChampionX by 37.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company’s stock worth $89,000 after buying an additional 831 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its stake in ChampionX by 16.4% during the second quarter. Meeder Advisory Services Inc. now owns 6,531 shares of the company’s stock worth $217,000 after buying an additional 918 shares in the last quarter. Institutional investors own 98.99% of the company’s stock.

ChampionX Stock Down 0.7 %

Shares of NASDAQ:CHX opened at $30.54 on Friday. ChampionX Co. has a 52 week low of $25.46 and a 52 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’s fifty day moving average is $31.60 and its 200-day moving average is $32.99. The company has a market capitalization of $5.82 billion, a PE ratio of 16.60, a P/E/G ratio of 1.13 and a beta of 2.37.

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

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.24%. ChampionX’s dividend payout ratio is presently 20.65%.

Analyst Ratings Changes

Separately, Piper Sandler decreased their price target on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

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.