ChampionX Co. (NASDAQ:CHX) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA reduced its stake in ChampionX Co. (NASDAQ:CHX) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 892,731 shares of the company’s stock after selling 14,984 shares during the period. ChampionX makes up about 1.2% of Leeward Investments LLC MA’s investment portfolio, making the stock its 10th biggest holding. Leeward Investments LLC MA owned approximately 0.46% of ChampionX worth $26,077,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new stake in ChampionX in the 4th quarter valued at $26,000. Jennison Associates LLC grew its stake in shares of ChampionX by 17.7% during the fourth quarter. Jennison Associates LLC now owns 25,053 shares of the company’s stock valued at $732,000 after acquiring an additional 3,765 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of ChampionX by 24.2% during the fourth quarter. Federated Hermes Inc. now owns 610,656 shares of the company’s stock valued at $17,837,000 after acquiring an additional 119,003 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of ChampionX by 1.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,598,635 shares of the company’s stock valued at $46,696,000 after acquiring an additional 24,854 shares in the last quarter. Finally, Phocas Financial Corp. grew its stake in shares of ChampionX by 1.8% during the fourth quarter. Phocas Financial Corp. now owns 221,155 shares of the company’s stock valued at $6,460,000 after acquiring an additional 3,827 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citigroup raised their target price on ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Barclays raised their target price on ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, Piper Sandler raised their target price on ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, ChampionX has an average rating of “Moderate Buy” and an average price target of $40.33.

ChampionX Stock Performance

Shares of CHX stock opened at $34.86 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.15 and a current ratio of 1.83. ChampionX Co. has a one year low of $24.98 and a one year high of $39.95. The company’s 50-day simple moving average is $34.26 and its 200-day simple moving average is $31.18. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 1.11 and a beta of 2.44.

ChampionX (NASDAQ:CHX) last issued its earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. The firm had revenue of $922.14 million for the quarter, compared to analysts’ expectations of $922.13 million. Equities analysts anticipate that ChampionX Co. will post 1.95 earnings per share for the current fiscal year.

ChampionX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 5th were issued a $0.095 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.09%. This is a boost from ChampionX’s previous quarterly dividend of $0.09. ChampionX’s dividend payout ratio (DPR) is currently 20.65%.

Insiders Place Their Bets

In other ChampionX news, insider William Jr. O’dell sold 27,178 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $36.00, for a total value of $978,408.00. Following the transaction, the insider now owns 57,748 shares of the company’s stock, valued at $2,078,928. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.38% of the stock is currently owned by corporate insiders.

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.