Aurora Investment Counsel Has $1.89 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Aurora Investment Counsel cut its position in ChampionX Co. (NASDAQ:CHX) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,794 shares of the company’s stock after selling 853 shares during the period. Aurora Investment Counsel’s holdings in ChampionX were worth $1,886,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CHX. Norges Bank acquired a new position in ChampionX during the fourth quarter worth $11,182,000. Wells Fargo & Company MN lifted its position in ChampionX by 0.8% in the 4th quarter. Wells Fargo & Company MN now owns 426,537 shares of the company’s stock valued at $12,459,000 after acquiring an additional 3,240 shares in the last quarter. Advisory Services Network LLC boosted its stake in ChampionX by 12.4% during the 4th quarter. Advisory Services Network LLC now owns 10,885 shares of the company’s stock valued at $318,000 after purchasing an additional 1,201 shares during the last quarter. TD Asset Management Inc increased its holdings in ChampionX by 24.8% during the 4th quarter. TD Asset Management Inc now owns 91,864 shares of the company’s stock worth $2,683,000 after purchasing an additional 18,250 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of ChampionX by 24.4% in the fourth quarter. Stifel Financial Corp now owns 226,181 shares of the company’s stock worth $6,607,000 after purchasing an additional 44,300 shares during the last quarter. 98.99% of the stock is owned by institutional investors.

ChampionX Price Performance

Shares of NASDAQ:CHX opened at $30.15 on Tuesday. The company has a 50 day moving average of $31.05 and a 200 day moving average of $32.94. The company has a current ratio of 1.99, a quick ratio of 1.25 and a debt-to-equity ratio of 0.34. The stock has a market cap of $5.74 billion, a P/E ratio of 16.39, a P/E/G ratio of 1.24 and a beta of 2.37. ChampionX Co. has a 12 month low of $25.46 and a 12 month high of $39.95.

ChampionX (NASDAQ:CHX) last posted 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). ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The company had revenue of $893.30 million for the quarter, compared to analysts’ expectations of $954.91 million. During the same quarter last year, the business posted $0.48 EPS. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that ChampionX Co. will post 1.99 EPS for the current fiscal year.

ChampionX Announces Dividend

The business 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 dividend of $0.095 per share. The ex-dividend date is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.26%. ChampionX’s dividend payout ratio (DPR) is currently 20.65%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their target price on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Two 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, ChampionX presently has a consensus 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.