ChampionX Co. (NASDAQ:CHX) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its stake in shares of ChampionX Co. (NASDAQ:CHX) by 12.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,487 shares of the company’s stock after selling 1,043 shares during the quarter. Exchange Traded Concepts LLC’s holdings in ChampionX were worth $226,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CHX. Allspring Global Investments Holdings LLC purchased a new stake in shares of ChampionX during the 1st quarter worth $27,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of ChampionX in the second quarter valued at about $68,000. UMB Bank n.a. boosted its holdings in ChampionX by 63.7% during the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after buying an additional 882 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in ChampionX in the first quarter valued at about $136,000. Finally, Fruth Investment Management purchased a new position in ChampionX in the first quarter valued at about $200,000. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped their price objective 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 equities research 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 currently has an average rating of “Moderate Buy” and an average target price of $39.00.

ChampionX Trading Up 0.4 %

ChampionX stock opened at $29.88 on Tuesday. The stock has a 50-day moving average price of $30.68 and a 200 day moving average price of $32.51. ChampionX Co. has a 52 week low of $25.46 and a 52 week high of $39.95. The stock has a market cap of $5.69 billion, a PE ratio of 16.24, a P/E/G ratio of 1.27 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.

ChampionX (NASDAQ:CHX) last announced 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). ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The firm had revenue of $893.30 million for the quarter, compared to analyst estimates of $954.91 million. During the same quarter last year, the business posted $0.48 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. Equities research analysts predict that ChampionX Co. will post 1.99 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued 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 1.27%. ChampionX’s payout ratio is 20.65%.

About ChampionX

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.