Envestnet Asset Management Inc. Has $26.66 Million Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Envestnet Asset Management Inc. lowered its stake in ChampionX Co. (NASDAQ:CHX) by 18.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 802,827 shares of the company’s stock after selling 179,136 shares during the quarter. Envestnet Asset Management Inc. owned about 0.42% of ChampionX worth $26,662,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Jump Financial LLC bought a new position in ChampionX during the fourth quarter worth about $213,000. Vanguard Personalized Indexing Management LLC increased its position in shares of ChampionX by 82.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 16,356 shares of the company’s stock valued at $478,000 after buying an additional 7,401 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of ChampionX by 37.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company’s stock valued at $89,000 after buying an additional 831 shares in the last quarter. Norges Bank acquired a new stake in shares of ChampionX during the fourth quarter worth about $11,182,000. Finally, Coldstream Capital Management Inc. lifted its holdings in shares of ChampionX by 25.3% during the 4th quarter. Coldstream Capital Management Inc. now owns 8,808 shares of the company’s stock valued at $257,000 after purchasing an additional 1,776 shares in the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

ChampionX Stock Down 0.7 %

CHX stock opened at $30.54 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.99 and a quick ratio of 1.25. The stock has a market capitalization of $5.82 billion, a P/E ratio of 16.60, a P/E/G ratio of 1.13 and a beta of 2.37. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95. The business has a 50-day moving average of $31.55 and a 200-day moving average of $32.99.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings data 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). ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The business had revenue of $893.30 million during the quarter, compared to analyst estimates of $954.91 million. During the same quarter last year, the business earned $0.48 earnings per share. ChampionX’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that ChampionX Co. will post 1.99 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.24%. ChampionX’s dividend payout ratio is 20.65%.

Analysts Set New Price Targets

Separately, Piper Sandler dropped their target price on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ChampionX has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

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.