ChampionX Co. (NASDAQ:CHX) Stake Boosted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 13.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,527 shares of the company’s stock after purchasing an additional 2,485 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in ChampionX were worth $649,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CHX. Millennium Management LLC boosted its position 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. Magnetar Financial LLC bought a new position in shares of ChampionX during the second quarter worth about $72,860,000. Water Island Capital LLC acquired a new stake in shares of ChampionX in the 2nd quarter worth about $35,384,000. Squarepoint Ops LLC acquired a new stake in shares of ChampionX in the 2nd quarter worth about $21,669,000. Finally, Renaissance Technologies LLC bought a new stake in ChampionX in the 2nd quarter valued at about $20,677,000. 98.99% of the stock is owned by institutional investors and hedge funds.

ChampionX Stock Performance

CHX opened at $30.86 on Friday. The business has a fifty day simple moving average of $30.08 and a 200-day simple moving average of $31.83. The firm has a market cap of $5.88 billion, a PE ratio of 19.17 and a beta of 2.38. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.33. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95.

ChampionX (NASDAQ:CHX) last issued its earnings results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The business had revenue of $906.53 million during the quarter, compared to analyst estimates of $916.50 million. During the same period last year, the business earned $0.41 EPS. The business’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, equities analysts predict that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were given a dividend of $0.095 per share. The ex-dividend date was Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.23%. ChampionX’s payout ratio is 23.60%.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their target price on ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th.

Insider Buying and Selling at ChampionX

In related news, insider Deric D. Bryant sold 49,303 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the transaction, the insider now owns 337,409 shares of the company’s stock, valued at approximately $10,142,514.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.38% of the company’s stock.

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.