Ritholtz Wealth Management Sells 3,439 Shares of ChampionX Co. (NASDAQ:CHX)

Ritholtz Wealth Management lessened its holdings in ChampionX Co. (NASDAQ:CHX) by 34.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,637 shares of the company’s stock after selling 3,439 shares during the period. Ritholtz Wealth Management’s holdings in ChampionX were worth $220,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new position in ChampionX during the first quarter valued at $27,000. Rise Advisors LLC bought a new position in ChampionX during the first quarter valued at $35,000. Quadrant Capital Group LLC increased its position in ChampionX by 37.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company’s stock valued at $89,000 after acquiring an additional 831 shares during the last quarter. Principal Securities Inc. bought a new position in ChampionX during the fourth quarter valued at $91,000. Finally, YHB Investment Advisors Inc. bought a new position in ChampionX during the first quarter valued at $134,000. Institutional investors own 98.99% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their price objective on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, ChampionX currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

ChampionX Stock Down 1.7 %

Shares of CHX opened at $28.86 on Friday. The firm has a market capitalization of $5.50 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.25 and a beta of 2.37. ChampionX Co. has a 12-month low of $25.46 and a 12-month high of $39.95. The company has a current ratio of 1.99, a quick ratio of 1.25 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average price of $32.23 and a 200-day moving average price of $33.11.

ChampionX (NASDAQ:CHX) last issued its earnings results on Wednesday, July 24th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.11). The company had revenue of $893.30 million for the quarter, compared to analysts’ expectations of $954.91 million. ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 earnings per share. Equities research analysts expect that ChampionX Co. will post 1.99 earnings per share for the current year.

ChampionX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Friday, October 4th. ChampionX’s dividend payout ratio (DPR) is presently 20.65%.

ChampionX Profile

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.