ChampionX (NASDAQ:CHX) Sees Unusually-High Trading Volume Following Dividend Announcement

ChampionX Co. (NASDAQ:CHX) shares saw unusually-high trading volume on Thursday following a dividend announcement from the company. Approximately 3,355,293 shares were traded during mid-day trading, an increase of 2% from the previous session’s volume of 3,285,459 shares.The stock last traded at $29.88 and had previously closed at $30.37.

The newly announced dividend which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Friday, April 4th. ChampionX’s dividend payout ratio is 23.03%.

ChampionX Stock Performance

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 company’s fifty day moving average price is $29.47 and its 200 day moving average price is $29.46. The company has a market cap of $5.75 billion, a PE ratio of 18.27 and a beta of 2.28.

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

Institutional Investors Weigh In On ChampionX

A number of hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its stake in ChampionX by 153.2% in the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company’s stock valued at $25,000 after purchasing an additional 559 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of ChampionX by 1,051.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock valued at $51,000 after buying an additional 1,725 shares during the period. R Squared Ltd purchased a new position in shares of ChampionX during the 4th quarter valued at $103,000. Vestcor Inc grew its stake in shares of ChampionX by 71.6% during the 4th quarter. Vestcor Inc now owns 5,032 shares of the company’s stock worth $137,000 after acquiring an additional 2,100 shares during the period. Finally, Brown Brothers Harriman & Co. grew its stake in shares of ChampionX by 82,557.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company’s stock worth $157,000 after acquiring an additional 5,779 shares during the period. 98.99% of the stock is currently owned by institutional investors.

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.