22,396 Shares in ChampionX Co. (NASDAQ:CHX) Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ acquired a new position in ChampionX Co. (NASDAQ:CHX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 22,396 shares of the company’s stock, valued at approximately $744,000.

Several other large investors also recently added to or reduced their stakes in CHX. Jump Financial LLC purchased a new stake in ChampionX in the 4th quarter worth about $213,000. Norges Bank bought a new position in ChampionX in the 4th quarter worth about $11,182,000. Coldstream Capital Management Inc. boosted its stake in ChampionX by 25.3% in the 4th quarter. Coldstream Capital Management Inc. now owns 8,808 shares of the company’s stock worth $257,000 after purchasing an additional 1,776 shares during the period. Wells Fargo & Company MN boosted its stake in ChampionX by 0.8% in the 4th quarter. Wells Fargo & Company MN now owns 426,537 shares of the company’s stock worth $12,459,000 after purchasing an additional 3,240 shares during the period. Finally, Assetmark Inc. boosted its stake in ChampionX by 29.4% in the 4th quarter. Assetmark Inc. now owns 30,030 shares of the company’s stock worth $877,000 after purchasing an additional 6,816 shares during the period. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler cut their target price on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, ChampionX presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

ChampionX Stock Performance

Shares of CHX opened at $30.98 on Tuesday. The company has a market cap of $5.90 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 1.13 and a beta of 2.37. 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 stock has a 50-day moving average price of $31.50 and a 200-day moving average price of $33.00. ChampionX Co. has a 12-month low of $25.46 and a 12-month high of $39.95.

ChampionX (NASDAQ:CHX) last issued its quarterly 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 business had revenue of $893.30 million for the quarter, compared to the consensus estimate of $954.91 million. ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. As a group, equities analysts forecast that ChampionX Co. will post 1.99 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a dividend of $0.095 per share. The ex-dividend date is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.23%. 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.