Thrivent Financial for Lutherans Decreases Stake in ChampionX Co. (NASDAQ:CHX)

Thrivent Financial for Lutherans lessened its stake in shares of ChampionX Co. (NASDAQ:CHX) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 44,754 shares of the company’s stock after selling 1,250 shares during the period. Thrivent Financial for Lutherans’ holdings in ChampionX were worth $1,349,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Millennium Management LLC boosted its holdings in shares of ChampionX by 12,607.0% in the 2nd quarter. Millennium Management LLC now owns 3,120,847 shares of the company’s stock valued at $103,643,000 after acquiring an additional 3,096,287 shares during the last quarter. Magnetar Financial LLC acquired a new position in ChampionX during the second quarter valued at $72,860,000. Water Island Capital LLC purchased a new stake in ChampionX in the second quarter valued at $35,384,000. Squarepoint Ops LLC acquired a new stake in ChampionX during the 2nd quarter worth about $21,669,000. Finally, Renaissance Technologies LLC purchased a new position in shares of ChampionX during the 2nd quarter valued at about $20,677,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Price Performance

NASDAQ:CHX opened at $30.95 on Friday. The company has a 50 day moving average price of $30.54 and a 200-day moving average price of $31.46. 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 $5.90 billion, a price-to-earnings ratio of 19.22 and a beta of 2.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.20.

ChampionX (NASDAQ:CHX) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The firm had revenue of $906.53 million during the quarter, compared to analysts’ expectations of $916.50 million. During the same period in the previous year, the firm posted $0.41 EPS. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. Equities research analysts forecast that ChampionX Co. will post 1.66 EPS for the current year.

ChampionX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, January 3rd. ChampionX’s payout ratio is currently 23.60%.

Analysts Set New Price Targets

Separately, Citigroup lowered their target price on 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

In related news, insider Deric D. Bryant sold 49,303 shares of ChampionX 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 sale, the insider now owns 337,409 shares of the company’s stock, valued at approximately $10,142,514.54. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.38% of the company’s stock.

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.