ChampionX (NASDAQ:CHX) Sees Unusually-High Trading Volume After Dividend Announcement

ChampionX Co. (NASDAQ:CHX) shares saw strong trading volume on Wednesday after the company announced a dividend. 2,800,942 shares changed hands during trading, an increase of 17% from the previous session’s volume of 2,395,404 shares.The stock last traded at $29.88 and had previously closed at $30.02.

The newly announced dividend which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.27%. ChampionX’s dividend payout ratio is presently 23.03%.

ChampionX Stock Performance

The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The stock has a market cap of $5.71 billion, a P/E ratio of 18.13 and a beta of 2.28. The stock has a fifty day simple moving average of $29.39 and a 200-day simple moving average of $29.51.

ChampionX (NASDAQ:CHX) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. Equities analysts expect that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of ChampionX by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 19,964,329 shares of the company’s stock valued at $542,830,000 after buying an additional 227,627 shares during the last quarter. State Street Corp raised its stake in ChampionX by 1.7% in the 3rd quarter. State Street Corp now owns 7,422,097 shares of the company’s stock valued at $223,776,000 after acquiring an additional 122,622 shares during the period. Geode Capital Management LLC raised its stake in ChampionX by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,617,387 shares of the company’s stock valued at $139,239,000 after acquiring an additional 63,119 shares during the period. Westchester Capital Management LLC lifted its holdings in ChampionX by 14.7% during the 4th quarter. Westchester Capital Management LLC now owns 3,243,134 shares of the company’s stock valued at $88,181,000 after purchasing an additional 414,995 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of ChampionX by 10.9% during the 4th quarter. Northern Trust Corp now owns 2,917,978 shares of the company’s stock worth $79,340,000 after buying an additional 286,853 shares during the period. Institutional investors own 98.99% of the company’s stock.

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.