ChampionX Co. (NASDAQ:CHX) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp cut its position in shares of ChampionX Co. (NASDAQ:CHX) by 2.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,589 shares of the company’s stock after selling 512 shares during the quarter. Hancock Whitney Corp’s holdings in ChampionX were worth $684,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in ChampionX during the 1st quarter valued at approximately $27,000. Rise Advisors LLC bought a new position in ChampionX in the 1st quarter worth about $35,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of ChampionX in the second quarter valued at approximately $68,000. YHB Investment Advisors Inc. bought a new stake 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 worth approximately $136,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.00.

ChampionX Price Performance

NASDAQ CHX opened at $30.98 on Tuesday. The firm has a market capitalization of $5.90 billion, a PE 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 current ratio of 1.99 and a quick ratio of 1.25. ChampionX Co. has a 12 month low of $25.46 and a 12 month high of $39.95. The company’s 50 day simple moving average is $31.50 and its 200 day simple moving average is $33.00.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data 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). The firm had revenue of $893.30 million during the quarter, compared to analyst estimates of $954.91 million. ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. As a group, equities research analysts forecast that ChampionX Co. will post 1.99 EPS for the current fiscal year.

ChampionX Announces Dividend

The firm also recently disclosed 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 1.23%. ChampionX’s dividend payout ratio is currently 20.65%.

ChampionX 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.