Kesler Norman & Wride LLC Purchases Shares of 16,354 ChampionX Co. (NASDAQ:CHX)

Kesler Norman & Wride LLC purchased a new stake in ChampionX Co. (NASDAQ:CHX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,354 shares of the company’s stock, valued at approximately $493,000.

Other institutional investors also recently modified their holdings of the company. Millennium Management LLC raised its stake in ChampionX by 12,607.0% during the 2nd quarter. Millennium Management LLC now owns 3,120,847 shares of the company’s stock valued at $103,643,000 after purchasing an additional 3,096,287 shares during the period. Hawk Ridge Capital Management LP acquired a new stake in ChampionX during the 4th quarter valued at $67,592,000. Magnetar Financial LLC acquired a new stake in ChampionX during the 2nd quarter valued at $72,860,000. Water Island Capital LLC acquired a new stake in ChampionX during the 2nd quarter valued at $35,384,000. Finally, Squarepoint Ops LLC acquired a new stake in ChampionX during the 2nd quarter valued at $21,669,000. Institutional investors own 98.99% of the company’s stock.

ChampionX Trading Down 3.3 %

ChampionX stock opened at $31.43 on Wednesday. The company’s fifty day simple moving average is $30.76 and its 200-day simple moving average is $32.86. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.34. ChampionX Co. has a 12 month low of $25.46 and a 12 month high of $39.95. The stock has a market cap of $5.99 billion, a P/E ratio of 17.08, a P/E/G ratio of 1.24 and a beta of 2.37.

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

ChampionX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Friday, October 4th. ChampionX’s dividend payout ratio (DPR) is 20.65%.

Analysts Set New Price Targets

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 report on Monday, July 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, ChampionX has an average rating of “Moderate Buy” and a consensus 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.