Texas Permanent School Fund Corp Lowers Stock Position in ChampionX Co. (NASDAQ:CHX)

Texas Permanent School Fund Corp trimmed its position in ChampionX Co. (NASDAQ:CHX) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,249 shares of the company’s stock after selling 1,030 shares during the quarter. Texas Permanent School Fund Corp owned about 0.09% of ChampionX worth $6,003,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky increased its stake in shares of ChampionX by 91.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 68,526 shares of the company’s stock worth $2,441,000 after purchasing an additional 32,657 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in ChampionX by 27.3% during the fourth quarter. Westfield Capital Management Co. LP now owns 891,381 shares of the company’s stock valued at $26,037,000 after acquiring an additional 190,928 shares during the period. Fisher Asset Management LLC lifted its position in shares of ChampionX by 7.2% in the fourth quarter. Fisher Asset Management LLC now owns 365,798 shares of the company’s stock valued at $10,685,000 after acquiring an additional 24,662 shares in the last quarter. Norden Group LLC boosted its stake in shares of ChampionX by 2,033.3% in the first quarter. Norden Group LLC now owns 251,775 shares of the company’s stock worth $9,036,000 after acquiring an additional 239,973 shares during the period. Finally, Stifel Financial Corp grew its position in shares of ChampionX by 24.4% during the fourth quarter. Stifel Financial Corp now owns 226,181 shares of the company’s stock worth $6,607,000 after purchasing an additional 44,300 shares in the last quarter. Institutional investors own 98.99% of the company’s stock.

Analysts Set New Price Targets

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

ChampionX Trading Up 0.1 %

CHX stock traded up $0.02 during mid-day trading on Friday, reaching $32.60. 121,650 shares of the stock traded hands, compared to its average volume of 1,942,556. The business has a 50-day moving average price of $32.64 and a two-hundred day moving average price of $31.96. The stock has a market capitalization of $6.21 billion, a PE ratio of 17.71, a PEG ratio of 1.32 and a beta of 2.41. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.83. ChampionX Co. has a one year low of $25.46 and a one year high of $39.95.

ChampionX (NASDAQ:CHX) last issued its quarterly 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. The company had revenue of $922.14 million for the quarter, compared to the consensus estimate of $922.13 million. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. Equities research analysts expect that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Friday, July 5th. ChampionX’s dividend payout ratio is currently 20.65%.

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.