ChampionX Co. (NASDAQ:CHX) Holdings Lifted by HighTower Advisors LLC

HighTower Advisors LLC grew its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,621 shares of the company’s stock after buying an additional 564 shares during the period. HighTower Advisors LLC’s holdings in ChampionX were worth $405,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CHX. Millennium Management LLC raised its holdings 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 purchasing an additional 3,096,287 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of ChampionX in the 2nd quarter worth approximately $72,860,000. Westchester Capital Management LLC lifted its stake in ChampionX by 67.8% during the third quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company’s stock valued at $85,268,000 after purchasing an additional 1,142,628 shares during the last quarter. Water Island Capital LLC acquired a new stake in ChampionX during the second quarter valued at approximately $35,384,000. Finally, Squarepoint Ops LLC bought a new stake in ChampionX during the second quarter worth approximately $21,669,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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

ChampionX Price Performance

Shares of NASDAQ:CHX opened at $25.79 on Friday. The company has a market cap of $4.91 billion, a P/E ratio of 16.02 and a beta of 2.38. The company’s fifty day moving average is $29.75 and its two-hundred day moving average is $30.99. 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 Co. has a 12-month low of $25.46 and a 12-month high of $39.95.

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

ChampionX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be paid a $0.095 dividend. The ex-dividend date is Friday, January 3rd. This represents a $0.38 annualized dividend and a yield of 1.47%. ChampionX’s dividend payout ratio 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.