Westfield Capital Management Co. LP Buys 118,037 Shares of ChampionX Co. (NASDAQ:CHX)

Westfield Capital Management Co. LP lifted its stake in shares of ChampionX Co. (NASDAQ:CHX) by 13.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,009,418 shares of the company’s stock after purchasing an additional 118,037 shares during the period. Westfield Capital Management Co. LP owned 0.53% of ChampionX worth $36,228,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CHX. SG Americas Securities LLC raised its stake in shares of ChampionX by 207.1% during the 4th quarter. SG Americas Securities LLC now owns 13,754 shares of the company’s stock worth $402,000 after purchasing an additional 9,275 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of ChampionX by 43.0% during the 4th quarter. Pacer Advisors Inc. now owns 53,931 shares of the company’s stock worth $1,575,000 after acquiring an additional 16,208 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of ChampionX by 51.6% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 601,358 shares of the company’s stock worth $17,566,000 after acquiring an additional 204,640 shares during the last quarter. Mendota Financial Group LLC acquired a new position in shares of ChampionX during the 4th quarter worth approximately $114,000. Finally, Chevy Chase Trust Holdings LLC increased its holdings in shares of ChampionX by 16.5% during the 4th quarter. Chevy Chase Trust Holdings LLC now owns 1,429,265 shares of the company’s stock worth $41,749,000 after acquiring an additional 202,050 shares during the last quarter. Institutional investors own 98.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CHX shares. Barclays boosted their target price on ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Piper Sandler decreased their target price on ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Finally, Citigroup upped their price objective on ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

ChampionX Stock Performance

NASDAQ CHX traded up $0.66 on Friday, reaching $35.09. The stock had a trading volume of 1,906,830 shares, compared to its average volume of 1,952,266. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.83 and a quick ratio of 1.16. The firm has a fifty day moving average of $32.67 and a two-hundred day moving average of $32.16. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95. The company has a market cap of $6.68 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 1.46 and a beta of 2.41.

ChampionX (NASDAQ:CHX) last released its earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.10. The company had revenue of $922.14 million for the quarter, compared to analyst estimates of $922.13 million. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. On average, equities research analysts anticipate that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, July 5th. ChampionX’s dividend payout ratio (DPR) 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.