Vestmark Advisory Solutions Inc. Lowers Holdings in ChampionX Co. (NASDAQ:CHX)

Vestmark Advisory Solutions Inc. cut its stake in ChampionX Co. (NASDAQ:CHX) by 29.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,145 shares of the company’s stock after selling 2,952 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in ChampionX were worth $209,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CHX. GAMMA Investing LLC purchased a new stake in ChampionX during the fourth quarter worth approximately $26,000. Parkside Financial Bank & Trust raised its position in ChampionX by 19.4% in the third quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock valued at $77,000 after purchasing an additional 352 shares during the period. Mendota Financial Group LLC acquired a new position in shares of ChampionX during the fourth quarter worth about $114,000. SG Americas Securities LLC grew its stake in shares of ChampionX by 16.9% in the third quarter. SG Americas Securities LLC now owns 4,479 shares of the company’s stock valued at $160,000 after buying an additional 649 shares in the last quarter. Finally, Prudent Man Advisors LLC acquired a new position in ChampionX during the 3rd quarter worth approximately $201,000. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

ChampionX Price Performance

Shares of NASDAQ:CHX opened at $34.03 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average is $34.69 and its two-hundred day moving average is $31.13. The firm has a market capitalization of $6.48 billion, a P/E ratio of 18.49, a PEG ratio of 1.06 and a beta of 2.45. ChampionX Co. has a 52 week low of $24.98 and a 52 week high of $39.95.

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

ChampionX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 5th were paid a $0.095 dividend. This is a positive change from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Thursday, April 4th. ChampionX’s dividend payout ratio is currently 20.65%.

Analysts Set New Price Targets

A number of research analysts have recently commented on CHX shares. Barclays boosted their target price on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Piper Sandler raised their price objective on ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Citigroup increased 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.33.

Insider Activity

In other news, insider William Jr. O’dell sold 27,178 shares of ChampionX stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $36.00, for a total transaction of $978,408.00. Following the transaction, the insider now directly owns 57,748 shares in the company, valued at approximately $2,078,928. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.38% of the company’s stock.

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.