ChampionX Co. (NASDAQ:CHX) Stock Position Decreased by Atria Investments Inc

Atria Investments Inc trimmed its position in shares of ChampionX Co. (NASDAQ:CHX) by 6.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,115 shares of the company’s stock after selling 586 shares during the quarter. Atria Investments Inc’s holdings in ChampionX were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC increased its position in ChampionX by 12,607.0% during the second quarter. Millennium Management LLC now owns 3,120,847 shares of the company’s stock worth $103,643,000 after buying an additional 3,096,287 shares during the last quarter. Magnetar Financial LLC bought a new stake in ChampionX during the second quarter worth approximately $72,860,000. Fiera Capital Corp grew its holdings in ChampionX by 1.2% during the second quarter. Fiera Capital Corp now owns 1,299,611 shares of the company’s stock valued at $43,160,000 after purchasing an additional 15,326 shares during the last quarter. Earnest Partners LLC raised its position in shares of ChampionX by 32.9% in the first quarter. Earnest Partners LLC now owns 1,164,876 shares of the company’s stock valued at $41,807,000 after purchasing an additional 288,224 shares during the period. Finally, Leeward Investments LLC MA lifted its stake in shares of ChampionX by 19.1% in the third quarter. Leeward Investments LLC MA now owns 1,067,589 shares of the company’s stock worth $32,188,000 after buying an additional 171,097 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup lowered their target price on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th.

Insider Activity at ChampionX

In other news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total value of $1,482,048.18. Following the completion of the transaction, the insider now owns 337,409 shares in the company, valued at approximately $10,142,514.54. This represents a 12.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.38% of the company’s stock.

ChampionX Stock Performance

CHX opened at $31.24 on Friday. ChampionX Co. has a 12-month low of $25.46 and a 12-month high of $39.95. The firm has a market capitalization of $5.95 billion, a P/E ratio of 19.40 and a beta of 2.38. The stock’s 50 day moving average price is $30.46 and its two-hundred day moving average price is $31.57. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.33.

ChampionX (NASDAQ:CHX) last announced its earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company had revenue of $906.53 million for the quarter, compared to the consensus estimate of $916.50 million. ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. On average, equities analysts forecast that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX’s dividend payout ratio (DPR) is presently 23.60%.

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.