ChampionX Co. (NASDAQ:CHX) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of ChampionX Co. (NASDAQ:CHX) by 19.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,478 shares of the company’s stock after acquiring an additional 9,333 shares during the quarter. Victory Capital Management Inc.’s holdings in ChampionX were worth $1,763,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Millennium Management LLC boosted its position in shares of ChampionX by 12,607.0% in 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 purchased a new position in shares of ChampionX in the second quarter worth approximately $72,860,000. Water Island Capital LLC acquired a new stake in shares of ChampionX during the second quarter valued at approximately $35,384,000. Squarepoint Ops LLC purchased a new stake in shares of ChampionX in the 2nd quarter valued at approximately $21,669,000. Finally, Renaissance Technologies LLC acquired a new position in ChampionX in the 2nd quarter worth approximately $20,677,000. 98.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Citigroup cut their target price on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th.

Insider Buying and Selling at ChampionX

In other news, insider Deric D. Bryant sold 49,303 shares of ChampionX stock in a transaction dated 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 sale, the insider now directly owns 337,409 shares in the company, valued at approximately $10,142,514.54. The trade was a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.38% of the company’s stock.

ChampionX Stock Performance

CHX stock opened at $31.24 on Monday. The firm has a 50 day simple moving average of $30.46 and a 200 day simple moving average of $31.55. 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 $5.95 billion, a P/E ratio of 19.40 and a beta of 2.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94.

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

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX’s dividend payout ratio is 23.60%.

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.