SG Americas Securities LLC Sells 95,625 Shares of ChampionX Co. (NASDAQ:CHX)

SG Americas Securities LLC trimmed its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 34.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 182,422 shares of the company’s stock after selling 95,625 shares during the quarter. SG Americas Securities LLC owned 0.10% of ChampionX worth $5,500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of ChampionX in the first quarter valued at about $27,000. Rise Advisors LLC bought a new stake in shares of ChampionX in the first quarter valued at about $35,000. DekaBank Deutsche Girozentrale bought a new stake in shares of ChampionX in the second quarter valued at about $68,000. YHB Investment Advisors Inc. bought a new stake in shares of ChampionX in the first quarter valued at about $134,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of ChampionX in the first quarter valued at about $136,000. 98.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Piper Sandler decreased their price objective on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, ChampionX has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

ChampionX Stock Performance

Shares of ChampionX stock opened at $32.47 on Friday. The company has a market capitalization of $6.18 billion, a PE ratio of 17.65, a P/E/G ratio of 1.24 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 company has a 50-day simple moving average of $30.84 and a two-hundred day simple moving average of $32.91. ChampionX Co. has a one year low of $25.46 and a one year high of $39.95.

ChampionX (NASDAQ:CHX) last announced its earnings results on Wednesday, July 24th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.11). The firm had revenue of $893.30 million during the quarter, compared to the consensus estimate of $954.91 million. ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Research analysts expect that ChampionX Co. will post 1.99 EPS for the current fiscal year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.17%. ChampionX’s dividend payout ratio is presently 20.65%.

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.