ChampionX Co. (NASDAQ:CHX) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its stake in shares of ChampionX Co. (NASDAQ:CHX) by 7.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,412 shares of the company’s stock after selling 7,881 shares during the quarter. Amalgamated Bank’s holdings in ChampionX were worth $3,069,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CHX. Virtu Financial LLC acquired a new stake in shares of ChampionX in the 2nd quarter worth approximately $4,977,000. Pekin Hardy Strauss Inc. bought a new stake in ChampionX during the second quarter worth approximately $2,806,000. Renaissance Technologies LLC acquired a new stake in ChampionX in the second quarter worth approximately $20,677,000. Alpine Associates Management Inc. bought a new position in ChampionX during the 2nd quarter valued at $11,786,000. Finally, Federated Hermes Inc. increased its position in shares of ChampionX by 10.0% during the 2nd quarter. Federated Hermes Inc. now owns 798,279 shares of the company’s stock valued at $26,511,000 after purchasing an additional 72,549 shares during the period. Institutional investors and hedge funds own 98.99% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler decreased their target price on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company 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.com, ChampionX has an average rating of “Moderate Buy” and an average target price of $39.00.

ChampionX Price Performance

NASDAQ CHX opened at $30.98 on Tuesday. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. The business’s fifty day moving average is $31.50 and its two-hundred day moving average is $33.00. The stock has a market capitalization of $5.90 billion, a P/E ratio of 16.84, a P/E/G 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.

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

ChampionX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders 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 annualized dividend and a dividend yield of 1.23%. ChampionX’s dividend payout ratio (DPR) is presently 20.65%.

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.