Bayesian Capital Management LP Buys New Shares in ChampionX Co. (NASDAQ:CHX)

Bayesian Capital Management LP bought a new stake in shares of ChampionX Co. (NASDAQ:CHX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 29,322 shares of the company’s stock, valued at approximately $1,052,000.

Other large investors also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in ChampionX by 6.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 526,091 shares of the company’s stock valued at $18,881,000 after acquiring an additional 32,860 shares during the last quarter. Avantax Advisory Services Inc. bought a new stake in ChampionX in the 1st quarter valued at $587,000. Sei Investments Co. increased its holdings in ChampionX by 18.0% in the 1st quarter. Sei Investments Co. now owns 798,936 shares of the company’s stock valued at $28,674,000 after acquiring an additional 121,700 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in ChampionX by 27.3% in the 4th 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 last quarter. Finally, Fisher Asset Management LLC increased its holdings in ChampionX by 7.2% in the 4th 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 during the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CHX has been the topic of a number of research reports. Barclays boosted their target price on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Piper Sandler reduced their target price on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

ChampionX Trading Up 1.5 %

NASDAQ:CHX traded up $0.50 during mid-day trading on Wednesday, hitting $34.21. 54,774 shares of the stock traded hands, compared to its average volume of 1,956,246. The stock has a market capitalization of $6.52 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.41 and a beta of 2.41. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.34. ChampionX Co. has a 52 week low of $25.46 and a 52 week high of $39.95. The firm’s 50 day moving average is $32.67 and its two-hundred day moving average is $32.54.

ChampionX (NASDAQ:CHX) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.11). The company had revenue of $893.30 million during the quarter, compared to analysts’ expectations of $954.91 million. ChampionX had a net margin of 8.66% and a return on equity of 19.72%. ChampionX’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share. On average, equities research analysts predict that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 5th were given a $0.095 dividend. The ex-dividend date was Friday, July 5th. This represents a $0.38 annualized dividend and a yield of 1.11%. ChampionX’s dividend payout ratio (DPR) is 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.