ChampionX Co. (NASDAQ:CHX) Shares Sold by FCF Advisors LLC

FCF Advisors LLC cut its stake in shares of ChampionX Co. (NASDAQ:CHX) by 71.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,377 shares of the company’s stock after selling 43,607 shares during the quarter. FCF Advisors LLC’s holdings in ChampionX were worth $524,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in ChampionX by 6.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 526,091 shares of the company’s stock worth $18,881,000 after purchasing an additional 32,860 shares during the period. Avantax Advisory Services Inc. acquired a new position in ChampionX during the first quarter worth $587,000. Sei Investments Co. raised its position in ChampionX by 18.0% in the first quarter. Sei Investments Co. now owns 798,936 shares of the company’s stock worth $28,674,000 after acquiring an additional 121,700 shares in the last quarter. Fisher Asset Management LLC raised its position in ChampionX by 7.2% in the fourth quarter. Fisher Asset Management LLC now owns 365,798 shares of the company’s stock worth $10,685,000 after acquiring an additional 24,662 shares in the last quarter. Finally, Norden Group LLC lifted its holdings in ChampionX by 2,033.3% in the first quarter. Norden Group LLC now owns 251,775 shares of the company’s stock valued at $9,036,000 after acquiring an additional 239,973 shares during the period. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

ChampionX Stock Performance

Shares of CHX stock opened at $31.43 on Wednesday. The stock has a fifty day moving average price of $30.76 and a 200 day moving average price of $32.86. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.25 and a current ratio of 1.99. The stock has a market cap of $5.99 billion, a PE ratio of 17.08, a P/E/G ratio of 1.24 and a beta of 2.37. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95.

ChampionX (NASDAQ:CHX) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.11). The firm had revenue of $893.30 million for the quarter, compared to analyst estimates of $954.91 million. ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. Sell-side analysts forecast that ChampionX Co. will post 1.99 earnings per share for the current fiscal year.

ChampionX Announces Dividend

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 1.21%. ChampionX’s dividend payout ratio (DPR) is 20.65%.

Analyst Upgrades and Downgrades

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

ChampionX Company 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.