LMR Partners LLP Purchases Shares of 380,481 ChampionX Co. (NASDAQ:CHX)

LMR Partners LLP acquired a new stake in ChampionX Co. (NASDAQ:CHX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 380,481 shares of the company’s stock, valued at approximately $10,345,000. LMR Partners LLP owned about 0.20% of ChampionX as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHX. Arizona State Retirement System increased its holdings in shares of ChampionX by 0.8% during the fourth quarter. Arizona State Retirement System now owns 55,268 shares of the company’s stock worth $1,503,000 after buying an additional 436 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of ChampionX by 1.9% during the fourth quarter. Pacer Advisors Inc. now owns 28,394 shares of the company’s stock valued at $772,000 after purchasing an additional 532 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of ChampionX by 153.2% during the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company’s stock worth $25,000 after purchasing an additional 559 shares during the last quarter. Hudson Edge Investment Partners Inc. raised its holdings in ChampionX by 4.8% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 15,150 shares of the company’s stock valued at $412,000 after buying an additional 700 shares during the last quarter. Finally, Ethic Inc. boosted its position in ChampionX by 6.4% during the 4th quarter. Ethic Inc. now owns 13,938 shares of the company’s stock worth $379,000 after buying an additional 833 shares during the period. 98.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus boosted their price objective on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, May 5th.

ChampionX Trading Up 0.6%

Shares of CHX stock opened at $25.10 on Monday. ChampionX Co. has a fifty-two week low of $21.92 and a fifty-two week high of $35.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99. The stock has a 50 day simple moving average of $26.68 and a two-hundred day simple moving average of $28.28. The company has a market cap of $4.81 billion, a P/E ratio of 15.21 and a beta of 1.52.

ChampionX (NASDAQ:CHX) last issued its earnings results on Tuesday, April 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. The company had revenue of $864.46 million during the quarter, compared to the consensus estimate of $900.59 million. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the business posted $0.50 EPS. Research analysts forecast that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.38 annualized dividend and a yield of 1.51%. ChampionX’s payout ratio is 25.17%.

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.