Sanctuary Advisors LLC Makes New Investment in ChampionX Co. (NASDAQ:CHX)

Sanctuary Advisors LLC purchased a new stake in shares of ChampionX Co. (NASDAQ:CHX) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 18,643 shares of the company’s stock, valued at approximately $650,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP bought a new stake in ChampionX in the 4th quarter worth about $6,881,000. Fisher Asset Management LLC raised its holdings in shares of ChampionX by 7.2% during the fourth quarter. Fisher Asset Management LLC now owns 365,798 shares of the company’s stock valued at $10,685,000 after purchasing an additional 24,662 shares during the last quarter. Vanguard Group Inc. boosted its holdings in ChampionX by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,033,091 shares of the company’s stock worth $585,167,000 after purchasing an additional 62,967 shares during the last quarter. HighPoint Advisor Group LLC purchased a new stake in ChampionX in the fourth quarter worth approximately $277,000. Finally, Rise Advisors LLC purchased a new stake in ChampionX during the 1st quarter valued at $35,000. Institutional investors own 98.99% of the company’s stock.

Analyst Upgrades and Downgrades

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

ChampionX Stock Performance

ChampionX stock opened at $31.90 on Tuesday. The firm has a market capitalization of $6.07 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 1.27 and a beta of 2.37. The company’s 50-day moving average is $30.71 and its 200 day moving average is $32.76. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95. 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 (NASDAQ:CHX) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.37 EPS 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 for the quarter, compared to analysts’ expectations of $954.91 million. During the same quarter in the previous year, the business earned $0.48 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Research analysts forecast that ChampionX Co. will post 1.99 EPS for the current year.

ChampionX Dividend Announcement

The business 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 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 yield of 1.19%. ChampionX’s dividend payout ratio is currently 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.