43,000 Shares in ChampionX Co. (NASDAQ:CHX) Purchased by HGC Investment Management Inc.

HGC Investment Management Inc. bought a new stake in ChampionX Co. (NASDAQ:CHX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 43,000 shares of the company’s stock, valued at approximately $1,296,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. lifted its position in shares of ChampionX by 442.4% during the 3rd quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock valued at $44,000 after buying an additional 1,084 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of ChampionX in the second quarter worth about $68,000. UMB Bank n.a. raised its position in shares of ChampionX by 63.7% in the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after purchasing an additional 882 shares during the period. KBC Group NV lifted its stake in shares of ChampionX by 18.3% during the 3rd quarter. KBC Group NV now owns 5,827 shares of the company’s stock valued at $176,000 after buying an additional 903 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in ChampionX in the 2nd quarter worth approximately $194,000. 98.99% of the stock is owned by institutional investors.

ChampionX Trading Down 0.6 %

Shares of CHX opened at $30.77 on Tuesday. ChampionX Co. has a twelve month low of $25.46 and a twelve month high of $39.95. The stock has a market cap of $5.86 billion, a PE ratio of 19.11 and a beta of 2.38. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average price is $30.54 and its 200-day moving average price is $31.43.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $906.53 million during the quarter, compared to the consensus estimate of $916.50 million. ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share. On average, equities analysts forecast that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be given a dividend of $0.095 per share. The ex-dividend date is Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.23%. ChampionX’s dividend payout ratio (DPR) is presently 23.60%.

Insider Transactions at ChampionX

In other news, insider Deric D. Bryant sold 49,303 shares of ChampionX stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the completion of the sale, the insider now directly owns 337,409 shares of the company’s stock, valued at approximately $10,142,514.54. The trade was a 12.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.38% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Citigroup lowered their target price on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 14th.

ChampionX Company 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.