Bank of Montreal Can Lowers Stock Position in ChampionX Co. (NASDAQ:CHX)

Bank of Montreal Can trimmed its holdings in ChampionX Co. (NASDAQ:CHX) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,108 shares of the company’s stock after selling 1,590 shares during the quarter. Bank of Montreal Can’s holdings in ChampionX were worth $2,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Point72 DIFC Ltd bought a new position in shares of ChampionX during the second quarter valued at $623,000. Quest Partners LLC raised its holdings in ChampionX by 86.8% in the 3rd quarter. Quest Partners LLC now owns 69,102 shares of the company’s stock worth $2,083,000 after acquiring an additional 32,103 shares during the last quarter. Renaissance Technologies LLC bought a new position in ChampionX in the 2nd quarter valued at approximately $20,677,000. New York State Teachers Retirement System boosted its stake in ChampionX by 8.1% during the 2nd quarter. New York State Teachers Retirement System now owns 231,551 shares of the company’s stock valued at $7,690,000 after purchasing an additional 17,259 shares during the last quarter. Finally, Hantz Financial Services Inc. bought a new stake in shares of ChampionX in the 2nd quarter worth $1,475,000. 98.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Citigroup dropped their price objective on ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th.

ChampionX Price Performance

NASDAQ CHX opened at $29.73 on Friday. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 18.47 and a beta of 2.38. 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 0.33, a current ratio of 1.94 and a quick ratio of 1.20. The business’s fifty day moving average price is $30.53 and its 200-day moving average price is $31.37.

ChampionX (NASDAQ:CHX) last released its quarterly 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 firm had revenue of $906.53 million for the quarter, compared to the consensus estimate of $916.50 million. ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 earnings per share. On average, equities analysts predict that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be issued a $0.095 dividend. The ex-dividend date is Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.28%. ChampionX’s dividend payout ratio is currently 23.60%.

Insiders Place Their Bets

In related news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the completion of the sale, the insider now owns 337,409 shares in the company, valued at approximately $10,142,514.54. This trade represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.