Ameritas Investment Partners Inc. Has $1.97 Million Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Ameritas Investment Partners Inc. trimmed its position in shares of ChampionX Co. (NASDAQ:CHX) by 4.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,190 shares of the company’s stock after selling 2,784 shares during the period. Ameritas Investment Partners Inc.’s holdings in ChampionX were worth $1,966,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of ChampionX during the first quarter valued at approximately $27,000. Rise Advisors LLC acquired a new stake in ChampionX during the first quarter worth $35,000. DekaBank Deutsche Girozentrale bought a new stake in ChampionX in the 2nd quarter valued at $68,000. Quadrant Capital Group LLC raised its stake in shares of ChampionX by 37.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company’s stock valued at $89,000 after buying an additional 831 shares in the last quarter. Finally, YHB Investment Advisors Inc. bought a new position in shares of ChampionX during the 1st quarter worth about $134,000. Institutional investors and hedge funds 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 business has a fifty day moving average of $31.55 and a two-hundred day moving average of $32.99. The stock has a market cap of $5.82 billion, a PE ratio of 16.60, a PEG ratio of 1.13 and a beta of 2.37.

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

ChampionX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.24%. ChampionX’s dividend payout ratio (DPR) is presently 20.65%.

Analysts Set New Price Targets

Separately, Piper Sandler lowered their target price 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.