ChampionX (NASDAQ:CHX) Sees Strong Trading Volume After Dividend Announcement

Shares of ChampionX Co. (NASDAQ:CHX) saw unusually-strong trading volume on Wednesday following a dividend announcement from the company. Approximately 2,800,942 shares were traded during mid-day trading, an increase of 17% from the previous session’s volume of 2,395,404 shares.The stock last traded at $29.88 and had previously closed at $30.02.

The newly announced dividend which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Friday, April 4th. ChampionX’s payout ratio is currently 23.03%.

ChampionX Stock Down 0.0 %

The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $29.40 and a 200 day moving average of $29.51. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 18.19 and a beta of 2.28.

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 analysts’ consensus estimates of $0.47 by $0.03. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. As a group, analysts expect that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of ChampionX by 123.7% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 246,152 shares of the company’s stock worth $6,693,000 after acquiring an additional 136,132 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of ChampionX by 0.3% during the fourth quarter. Van ECK Associates Corp now owns 2,639,352 shares of the company’s stock worth $71,764,000 after buying an additional 9,056 shares during the period. Raymond James Financial Inc. bought a new position in ChampionX in the 4th quarter worth approximately $12,080,000. Silphium Asset Management Ltd increased its position in ChampionX by 88.1% in the 4th quarter. Silphium Asset Management Ltd now owns 366,132 shares of the company’s stock valued at $9,955,000 after acquiring an additional 171,531 shares during the period. Finally, State Street Corp raised its stake in ChampionX by 1.7% during the 3rd 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. 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.