ChampionX Co. (NASDAQ:CHX) Holdings Cut by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its holdings in ChampionX Co. (NASDAQ:CHX) by 8.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,452,400 shares of the company’s stock after selling 312,949 shares during the period. Dimensional Fund Advisors LP owned about 1.81% of ChampionX worth $114,653,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of ChampionX in the first quarter valued at approximately $27,000. Rise Advisors LLC acquired a new position in shares of ChampionX during the first quarter valued at approximately $35,000. DekaBank Deutsche Girozentrale acquired a new position in shares of ChampionX during the second quarter valued at approximately $68,000. YHB Investment Advisors Inc. acquired a new position in shares of ChampionX during the first quarter valued at approximately $134,000. Finally, Central Pacific Bank Trust Division acquired a new position in shares of ChampionX during the first quarter valued at approximately $136,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Price Performance

Shares of NASDAQ:CHX opened at $30.98 on Tuesday. The company has a market capitalization of $5.90 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 1.13 and a beta of 2.37. 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 stock has a fifty day moving average of $31.50 and a 200-day moving average of $33.00. ChampionX Co. has a one year low of $25.46 and a one year high of $39.95.

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 net margin of 8.66% and a return on equity of 19.72%. The company had revenue of $893.30 million during the quarter, compared to analyst estimates of $954.91 million. During the same quarter last year, the business earned $0.48 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that ChampionX Co. will post 1.99 EPS for the current fiscal year.

ChampionX Dividend Announcement

The business 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 $0.095 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.23%. ChampionX’s dividend payout ratio (DPR) is 20.65%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lowered their price objective 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 given a buy rating to the company’s stock. Based on data from MarketBeat, ChampionX presently has a consensus rating of “Moderate Buy” and an average 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.