ChampionX Co. (NASDAQ:CHX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in shares of ChampionX Co. (NASDAQ:CHX) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,862,787 shares of the company’s stock after selling 147,253 shares during the period. Bank of New York Mellon Corp owned approximately 0.98% of ChampionX worth $50,649,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CHX. Wealth Enhancement Advisory Services LLC raised its position in ChampionX by 13.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 21,527 shares of the company’s stock worth $649,000 after acquiring an additional 2,485 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of ChampionX by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 22,238 shares of the company’s stock worth $670,000 after purchasing an additional 1,500 shares in the last quarter. Leeward Investments LLC MA grew its position in ChampionX by 19.1% in the third quarter. Leeward Investments LLC MA now owns 1,067,589 shares of the company’s stock worth $32,188,000 after buying an additional 171,097 shares during the last quarter. Assetmark Inc. boosted its position in shares of ChampionX by 8.9% in the 3rd quarter. Assetmark Inc. now owns 49,748 shares of the company’s stock valued at $1,500,000 after purchasing an additional 4,058 shares during the period. Finally, Wolverine Asset Management LLC raised its holdings in shares of ChampionX by 29.6% during the third quarter. Wolverine Asset Management LLC now owns 106,836 shares of the company’s stock valued at $3,221,000 after acquiring an additional 24,392 shares during the period. 98.99% of the stock is currently owned by institutional investors.

ChampionX Stock Up 1.0 %

ChampionX stock opened at $28.26 on Thursday. The firm’s 50 day moving average price is $28.87 and its two-hundred day moving average price is $29.62. The firm has a market cap of $5.39 billion, a PE ratio of 17.13 and a beta of 2.35. ChampionX Co. has a twelve month low of $25.57 and a twelve month high of $39.95. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data 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%. On average, research analysts predict that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.095 per share. The ex-dividend date is Friday, April 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.34%. ChampionX’s dividend payout ratio is currently 23.03%.

Analyst Upgrades and Downgrades

Separately, Citigroup dropped their price target on ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a research 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.