Venturi Wealth Management LLC Increases Position in ChampionX Co. (NASDAQ:CHX)

Venturi Wealth Management LLC lifted its holdings in ChampionX Co. (NASDAQ:CHX) by 1,051.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,889 shares of the company’s stock after buying an additional 1,725 shares during the period. Venturi Wealth Management LLC’s holdings in ChampionX were worth $51,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHX. Van ECK Associates Corp raised its holdings in shares of ChampionX by 0.3% in the 4th quarter. Van ECK Associates Corp now owns 2,639,352 shares of the company’s stock worth $71,764,000 after purchasing an additional 9,056 shares during the period. Quest Partners LLC raised its holdings in ChampionX by 86.8% during the 3rd quarter. Quest Partners LLC now owns 69,102 shares of the company’s stock valued at $2,083,000 after acquiring an additional 32,103 shares during the period. State Street Corp raised its holdings in ChampionX by 1.7% during the 3rd quarter. State Street Corp now owns 7,422,097 shares of the company’s stock valued at $223,776,000 after acquiring an additional 122,622 shares during the period. Barclays PLC raised its holdings in ChampionX by 147.2% during the 3rd quarter. Barclays PLC now owns 357,081 shares of the company’s stock valued at $10,766,000 after acquiring an additional 212,654 shares during the period. Finally, Geode Capital Management LLC raised its holdings in ChampionX by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,617,387 shares of the company’s stock valued at $139,239,000 after acquiring an additional 63,119 shares during the period. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Analyst Ratings Changes

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

ChampionX Trading Down 1.4 %

Shares of CHX stock opened at $29.12 on Wednesday. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 17.65 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 $28.57 and its two-hundred day simple moving average is $29.71. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36.

ChampionX (NASDAQ:CHX) last released its quarterly earnings results 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 net margin of 8.81% and a return on equity of 19.84%. As a group, analysts anticipate that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.30%. ChampionX’s payout ratio is currently 23.03%.

ChampionX 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.