Raymond James & Associates Boosts Stock Position in ChampionX Co. (NASDAQ:CHX)

Raymond James & Associates increased its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,285 shares of the company’s stock after buying an additional 6,695 shares during the period. Raymond James & Associates owned about 0.12% of ChampionX worth $6,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Legend Financial Advisors Inc. increased its stake in ChampionX by 1.6% during the 2nd quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company’s stock worth $713,000 after buying an additional 340 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of ChampionX in the first quarter worth approximately $27,000. UMB Bank n.a. increased its position in shares of ChampionX by 63.7% during the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after purchasing an additional 882 shares in the last quarter. Meeder Advisory Services Inc. raised its stake in ChampionX by 16.4% in the 2nd quarter. Meeder Advisory Services Inc. now owns 6,531 shares of the company’s stock valued at $217,000 after purchasing an additional 918 shares during the last quarter. Finally, EntryPoint Capital LLC lifted its holdings in ChampionX by 18.9% in the 1st quarter. EntryPoint Capital LLC now owns 5,817 shares of the company’s stock valued at $209,000 after purchasing an additional 923 shares in the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their price objective 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.

ChampionX Trading Down 0.6 %

Shares of CHX stock opened at $28.24 on Thursday. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95. The firm has a market cap of $5.38 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 1.27 and a beta of 2.37. The company has a 50-day moving average of $30.35 and a two-hundred day moving average of $32.10. 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 results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The firm had revenue of $906.53 million for the quarter, compared to analyst estimates of $916.50 million. During the same quarter last year, the company earned $0.41 earnings per share. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, analysts predict that ChampionX Co. will post 1.99 EPS for the current year.

ChampionX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were issued a dividend of $0.095 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.35%. ChampionX’s dividend payout ratio (DPR) is presently 23.60%.

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.