ChampionX Co. (NASDAQ:CHX) Shares Sold by Narwhal Capital Management

Narwhal Capital Management lessened its holdings in ChampionX Co. (NASDAQ:CHX) by 30.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 137,231 shares of the company’s stock after selling 59,907 shares during the period. Narwhal Capital Management’s holdings in ChampionX were worth $3,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in CHX. State Street Corp lifted its holdings in shares of ChampionX by 1.7% in the 3rd quarter. State Street Corp now owns 7,422,097 shares of the company’s stock worth $223,776,000 after purchasing an additional 122,622 shares during the last quarter. Geode Capital Management LLC increased its position in ChampionX by 1.4% in the third quarter. Geode Capital Management LLC now owns 4,617,387 shares of the company’s stock worth $139,239,000 after buying an additional 63,119 shares during the period. Millennium Management LLC lifted its stake in ChampionX by 12,607.0% in the second quarter. Millennium Management LLC now owns 3,120,847 shares of the company’s stock valued at $103,643,000 after buying an additional 3,096,287 shares during the last quarter. Westchester Capital Management LLC boosted its holdings in shares of ChampionX by 67.8% during the third quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company’s stock valued at $85,268,000 after acquiring an additional 1,142,628 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of ChampionX by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,623,131 shares of the company’s stock worth $79,087,000 after acquiring an additional 84,875 shares during the last quarter. Institutional investors own 98.99% of the company’s stock.

Insider Buying and Selling at ChampionX

In other news, insider Deric D. Bryant sold 49,303 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the sale, the insider now directly owns 337,409 shares in the company, valued at approximately $10,142,514.54. The trade was a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.38% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup reduced their target price on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 14th.

ChampionX Trading Up 0.4 %

ChampionX stock opened at $30.05 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 18.66 and a beta of 2.36. The firm’s 50 day moving average price is $28.84 and its two-hundred day moving average price is $30.30. ChampionX Co. has a 1 year low of $25.57 and a 1 year high of $39.95.

ChampionX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Friday, January 3rd. ChampionX’s dividend payout ratio is presently 23.60%.

About ChampionX

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.