NBC Securities Inc. Trims Stake in ChampionX Co. (NASDAQ:CHX)

NBC Securities Inc. cut its stake in ChampionX Co. (NASDAQ:CHX) by 42.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,731 shares of the company’s stock after selling 2,801 shares during the period. NBC Securities Inc.’s holdings in ChampionX were worth $112,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CHX. Allspring Global Investments Holdings LLC purchased a new position in ChampionX during the 1st quarter valued at about $27,000. DekaBank Deutsche Girozentrale bought a new stake in shares of ChampionX in the 2nd quarter worth approximately $68,000. UMB Bank n.a. grew its stake in shares of ChampionX by 63.7% in the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after buying an additional 882 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in ChampionX during the 1st quarter valued at approximately $136,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in ChampionX during the second quarter valued at $194,000. 98.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

ChampionX Price Performance

Shares of NASDAQ:CHX opened at $29.76 on Friday. 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 firm has a market cap of $5.67 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.27 and a beta of 2.37. The business has a 50-day simple moving average of $30.71 and a two-hundred day simple moving average of $32.62. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95.

ChampionX (NASDAQ:CHX) last released 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 period in the previous year, the firm earned $0.48 earnings per share. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, analysts expect that ChampionX Co. will post 1.99 earnings per share for the current year.

ChampionX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, October 4th. ChampionX’s dividend payout ratio (DPR) is presently 20.65%.

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.