Westfield Capital Management Co. LP Purchases 190,928 Shares of ChampionX Co. (NASDAQ:CHX)

Westfield Capital Management Co. LP lifted its position in ChampionX Co. (NASDAQ:CHX) by 27.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 891,381 shares of the company’s stock after acquiring an additional 190,928 shares during the period. Westfield Capital Management Co. LP’s holdings in ChampionX were worth $26,037,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. California Public Employees Retirement System boosted its position in shares of ChampionX by 4.2% during the third quarter. California Public Employees Retirement System now owns 405,262 shares of the company’s stock valued at $14,435,000 after buying an additional 16,229 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of ChampionX in the third quarter worth approximately $257,000. Victory Capital Management Inc. grew its stake in shares of ChampionX by 356.3% in the third quarter. Victory Capital Management Inc. now owns 189,360 shares of the company’s stock worth $6,745,000 after acquiring an additional 147,863 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of ChampionX by 1.8% during the third quarter. Los Angeles Capital Management LLC now owns 37,026 shares of the company’s stock valued at $1,319,000 after purchasing an additional 650 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. bought a new position in ChampionX during the third quarter valued at approximately $360,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Stock Performance

NASDAQ CHX traded down $0.16 on Friday, hitting $32.65. 992,219 shares of the company traded hands, compared to its average volume of 1,612,801. The business’s 50 day moving average price is $35.23 and its 200-day moving average price is $31.38. ChampionX Co. has a 52-week low of $24.98 and a 52-week high of $39.95. 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 company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 1.31 and a beta of 2.45.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. The firm had revenue of $922.14 million for the quarter, compared to analysts’ expectations of $922.13 million. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. Equities analysts expect that ChampionX Co. will post 1.99 earnings per share for the current year.

ChampionX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a $0.095 dividend. The ex-dividend date is Friday, July 5th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.16%. ChampionX’s payout ratio is currently 20.65%.

Insider Transactions at ChampionX

In related news, insider William Jr. O’dell sold 27,178 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $36.00, for a total value of $978,408.00. Following the completion of the transaction, the insider now owns 57,748 shares of the company’s stock, valued at approximately $2,078,928. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CHX. Piper Sandler boosted their target price on shares of ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Citigroup upped their price objective on ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Finally, Barclays raised their target price on ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.33.

About ChampionX

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.