Truist Financial Corp Sells 8,861 Shares of ChampionX Co. (NASDAQ:CHX)

Truist Financial Corp decreased its position in ChampionX Co. (NASDAQ:CHX) by 9.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 82,475 shares of the company’s stock after selling 8,861 shares during the period. Truist Financial Corp’s holdings in ChampionX were worth $2,242,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in ChampionX by 0.3% in the fourth quarter. Van ECK Associates Corp now owns 2,639,352 shares of the company’s stock valued at $71,764,000 after acquiring an additional 9,056 shares in the last quarter. Quest Partners LLC boosted its holdings in ChampionX by 86.8% in the third quarter. Quest Partners LLC now owns 69,102 shares of the company’s stock valued at $2,083,000 after acquiring an additional 32,103 shares in the last quarter. State Street Corp boosted its holdings in ChampionX by 1.7% in the third quarter. State Street Corp now owns 7,422,097 shares of the company’s stock valued at $223,776,000 after acquiring an additional 122,622 shares in the last quarter. Barclays PLC boosted its holdings in ChampionX by 147.2% in the third quarter. Barclays PLC now owns 357,081 shares of the company’s stock valued at $10,766,000 after acquiring an additional 212,654 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in ChampionX by 1.4% in the third quarter. Geode Capital Management LLC now owns 4,617,387 shares of the company’s stock valued at $139,239,000 after acquiring an additional 63,119 shares in the last quarter. Institutional investors own 98.99% of the company’s stock.

ChampionX Price Performance

CHX opened at $28.84 on Thursday. The stock has a 50-day moving average price of $28.62 and a 200-day moving average price of $29.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36. The firm has a market cap of $5.50 billion, a PE ratio of 17.48 and a beta of 2.35. ChampionX Co. has a 1 year low of $25.57 and a 1 year high of $39.95.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. Sell-side analysts predict that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX’s dividend payout ratio (DPR) is 23.03%.

Wall Street Analyst Weigh In

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

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.