Profund Advisors LLC Sells 487 Shares of ChampionX Co. (NASDAQ:CHX)

Profund Advisors LLC lessened its position in ChampionX Co. (NASDAQ:CHX) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,959 shares of the company’s stock after selling 487 shares during the quarter. Profund Advisors LLC’s holdings in ChampionX were worth $929,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in ChampionX during the first quarter valued at about $27,000. Rise Advisors LLC bought a new position in ChampionX during the 1st quarter worth approximately $35,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of ChampionX during the second quarter valued at approximately $68,000. YHB Investment Advisors Inc. bought a new position in shares of ChampionX in the first quarter worth approximately $134,000. Finally, Central Pacific Bank Trust Division purchased a new position in shares of ChampionX in the first quarter worth $136,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Price Performance

Shares of ChampionX stock opened at $30.98 on Tuesday. The stock’s fifty day moving average is $31.50 and its 200 day moving average is $33.00. ChampionX Co. has a one year low of $25.46 and a one year 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 stock has a market cap 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.

ChampionX (NASDAQ:CHX) last issued its quarterly 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). The firm had revenue of $893.30 million for the quarter, compared to analysts’ expectations of $954.91 million. ChampionX had a net margin of 8.66% and a return on equity of 19.72%. ChampionX’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 EPS. Sell-side analysts anticipate that ChampionX Co. will post 1.99 earnings per share for the current year.

ChampionX Dividend Announcement

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

Analysts Set New Price Targets

Separately, Piper Sandler lowered their price target on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research report 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.00.

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.