Fmr LLC Has $50.44 Million Position in ChampionX Co. (NASDAQ:CHX)

Fmr LLC cut its position in ChampionX Co. (NASDAQ:CHX) by 53.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,673,065 shares of the company’s stock after selling 1,897,214 shares during the quarter. Fmr LLC owned 0.88% of ChampionX worth $50,443,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHX. Millennium Management LLC increased its holdings in ChampionX by 12,607.0% in the second quarter. Millennium Management LLC now owns 3,120,847 shares of the company’s stock valued at $103,643,000 after purchasing an additional 3,096,287 shares during the period. Magnetar Financial LLC acquired a new stake in shares of ChampionX in the second quarter valued at about $72,860,000. Water Island Capital LLC bought a new position in shares of ChampionX during the second quarter worth about $35,384,000. Squarepoint Ops LLC acquired a new position in shares of ChampionX in the second quarter worth approximately $21,669,000. Finally, Renaissance Technologies LLC bought a new stake in ChampionX in the second quarter valued at approximately $20,677,000. 98.99% of the stock is currently owned by institutional investors.

ChampionX Stock Performance

CHX stock opened at $28.88 on Friday. The firm has a market cap of $5.50 billion, a PE ratio of 17.94 and a beta of 2.38. The stock has a 50-day moving average price of $30.50 and a 200-day moving average price of $31.30. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33.

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

ChampionX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be paid a dividend of $0.095 per share. The ex-dividend date is Friday, January 3rd. This represents a $0.38 annualized dividend and a yield of 1.32%. ChampionX’s dividend payout ratio is currently 23.60%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, insider Deric D. Bryant sold 49,303 shares of the business’s 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 transaction, the insider now directly owns 337,409 shares in the company, valued at $10,142,514.54. The trade was a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.38% of the stock is currently owned by insiders.

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.