Eagle Asset Management Inc. Acquires New Holdings in ChampionX Co. (NASDAQ:CHX)

Eagle Asset Management Inc. purchased a new position in ChampionX Co. (NASDAQ:CHXGet Rating) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 754,292 shares of the company’s stock, valued at approximately $15,093,000.

Other institutional investors have also modified their holdings of the company. UMB Bank N A MO bought a new stake in ChampionX in the fourth quarter worth about $27,000. Northwestern Mutual Wealth Management Co. increased its stake in ChampionX by 145.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,787 shares of the company’s stock worth $36,000 after purchasing an additional 1,060 shares in the last quarter. Pinebridge Investments L.P. purchased a new position in ChampionX in the 4th quarter worth about $36,000. First Horizon Advisors Inc. increased its stake in ChampionX by 236.2% in the 4th quarter. First Horizon Advisors Inc. now owns 3,036 shares of the company’s stock worth $60,000 after purchasing an additional 2,133 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC purchased a new position in ChampionX in the 4th quarter worth about $68,000. Hedge funds and other institutional investors own 96.89% of the company’s stock.

Shares of ChampionX stock opened at $21.46 on Friday. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 31.10 and a beta of 2.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.85 and a quick ratio of 1.09. ChampionX Co. has a 52-week low of $19.00 and a 52-week high of $30.48. The stock has a 50-day simple moving average of $23.24 and a 200-day simple moving average of $22.85.

ChampionX (NASDAQ:CHXGet Rating) last announced its quarterly earnings results on Tuesday, April 26th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. The business had revenue of $865.96 million during the quarter, compared to analyst estimates of $833.75 million. ChampionX had a return on equity of 8.92% and a net margin of 4.43%. During the same period in the previous year, the company earned $0.08 EPS. As a group, equities research analysts predict that ChampionX Co. will post 1.14 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 1st will be issued a $0.075 dividend. The ex-dividend date is Thursday, June 30th. This represents a $0.30 annualized dividend and a yield of 1.40%. ChampionX’s dividend payout ratio (DPR) is currently 43.48%.

A number of equities analysts recently weighed in on CHX shares. Piper Sandler raised ChampionX from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $28.00 to $30.00 in a research note on Monday, April 11th. Barclays lifted their target price on ChampionX from $33.00 to $38.00 in a research note on Monday, May 2nd. The Goldman Sachs Group raised ChampionX from a “sell” rating to a “neutral” rating and set a $24.00 target price on the stock in a research note on Tuesday, February 22nd. Finally, Bank of America cut ChampionX from a “buy” rating to a “neutral” rating in a research note on Friday, March 11th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $28.83.

ChampionX Company Profile (Get Rating)

ChampionX Corporation provides chemistry solutions, and engineered equipment and technologies to oil and gas companies worldwide. The company's Production Chemical Technologies segment offers onshore and offshore chemical solutions, such as corrosion inhibitors, scale inhibitors, emulsion breakers, and biocides to oil and natural gas production and midstream markets to manage and control corrosion, oil and water separation, flow assurance, sour gas treatment, and water-related issues.

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Institutional Ownership by Quarter for ChampionX (NASDAQ:CHX)

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