ChampionX Co. (NASDAQ:CHX) Stake Cut by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,723 shares of the company’s stock after selling 515 shares during the quarter. State of Alaska Department of Revenue’s holdings in ChampionX were worth $590,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of ChampionX by 442.4% during the 3rd quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock worth $44,000 after purchasing an additional 1,084 shares during the last quarter. R Squared Ltd bought a new stake in ChampionX in the fourth quarter worth $103,000. KBC Group NV increased its position in ChampionX by 18.3% during the third quarter. KBC Group NV now owns 5,827 shares of the company’s stock worth $176,000 after buying an additional 903 shares during the last quarter. Quantinno Capital Management LP bought a new position in ChampionX during the third quarter valued at about $265,000. Finally, Coldstream Capital Management Inc. lifted its position in shares of ChampionX by 6.6% in the third quarter. Coldstream Capital Management Inc. now owns 9,625 shares of the company’s stock worth $290,000 after buying an additional 594 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup reduced their target price on ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

ChampionX Trading Down 1.0 %

Shares of ChampionX stock opened at $29.44 on Friday. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 17.84 and a beta of 2.35. ChampionX Co. has a 1 year low of $25.57 and a 1 year high of $39.95. The company’s fifty day simple moving average is $28.43 and its 200-day simple moving average is $29.84. The company has a current ratio of 1.99, a quick ratio of 1.20 and a debt-to-equity ratio of 0.32.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. As a group, sell-side analysts expect that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 3rd were paid a dividend of $0.095 per share. The ex-dividend date was Friday, January 3rd. This represents a $0.38 annualized dividend and a yield of 1.29%. ChampionX’s dividend payout ratio is currently 23.03%.

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.