Prudent Man Advisors LLC Buys Shares of 5,650 ChampionX Co. (NASDAQ:CHX)

Prudent Man Advisors LLC purchased a new position in shares of ChampionX Co. (NASDAQ:CHXFree Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,650 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in ChampionX by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 74,057 shares of the company’s stock worth $1,813,000 after buying an additional 7,061 shares during the last quarter. BlackRock Inc. raised its position in shares of ChampionX by 0.5% in the first quarter. BlackRock Inc. now owns 24,501,257 shares of the company’s stock valued at $599,791,000 after buying an additional 126,529 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of ChampionX by 8.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 110,119 shares of the company’s stock worth $2,768,000 after purchasing an additional 8,223 shares during the last quarter. Yousif Capital Management LLC grew its holdings in ChampionX by 2.3% in the 1st quarter. Yousif Capital Management LLC now owns 109,208 shares of the company’s stock valued at $2,673,000 after buying an additional 2,439 shares in the last quarter. Finally, Sei Investments Co. raised its stake in ChampionX by 17.8% during the first quarter. Sei Investments Co. now owns 694,766 shares of the company’s stock worth $17,014,000 after purchasing an additional 104,849 shares during the period. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Trading Down 0.3 %

NASDAQ CHX opened at $28.99 on Monday. ChampionX Co. has a 52 week low of $23.66 and a 52 week high of $38.37. The firm has a 50 day moving average of $28.46 and a two-hundred day moving average of $31.96. The stock has a market capitalization of $5.65 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 0.70 and a beta of 2.45. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.36.

ChampionX (NASDAQ:CHXGet Free Report) last posted its earnings results on Tuesday, February 6th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $943.56 million for the quarter, compared to analyst estimates of $947.33 million. ChampionX had a return on equity of 20.14% and a net margin of 8.36%. ChampionX’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.43 earnings per share. As a group, research analysts expect that ChampionX Co. will post 1.94 EPS for the current fiscal year.

ChampionX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.31%. This is an increase from ChampionX’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, April 4th. ChampionX’s dividend payout ratio is 21.66%.

Wall Street Analyst Weigh In

CHX has been the subject of several analyst reports. Piper Sandler cut shares of ChampionX from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $38.00 to $32.00 in a research note on Monday, January 8th. Barclays raised ChampionX from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $33.00 to $42.00 in a research note on Tuesday, October 17th. Stifel Nicolaus decreased their price target on ChampionX from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. Finally, The Goldman Sachs Group cut their price objective on ChampionX from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, November 14th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.50.

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About ChampionX

(Free Report)

ChampionX Corporation provides chemistry solutions, 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.

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Institutional Ownership by Quarter for ChampionX (NASDAQ:CHX)

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