Cubist Systematic Strategies LLC Makes New $1.33 Million Investment in ChampionX Co. (NASDAQ:CHX)

Cubist Systematic Strategies LLC bought a new position in ChampionX Co. (NASDAQ:CHX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 48,819 shares of the company’s stock, valued at approximately $1,327,000.

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in ChampionX by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 19,964,329 shares of the company’s stock worth $542,830,000 after buying an additional 227,627 shares during the last quarter. Westchester Capital Management LLC grew its position in shares of ChampionX by 14.7% in the fourth 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 in the last quarter. Northern Trust Corp grew its position in shares of ChampionX by 10.9% in the fourth quarter. Northern Trust Corp now owns 2,917,978 shares of the company’s stock valued at $79,340,000 after purchasing an additional 286,853 shares in the last quarter. AQR Arbitrage LLC grew its position in shares of ChampionX by 7.4% in the fourth quarter. AQR Arbitrage LLC now owns 2,808,543 shares of the company’s stock valued at $75,859,000 after purchasing an additional 194,219 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of ChampionX in the fourth quarter valued at $74,032,000. 98.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lifted their price target on ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, May 5th.

ChampionX Price Performance

Shares of NASDAQ CHX opened at $26.26 on Wednesday. The stock has a market cap of $5.03 billion, a PE ratio of 15.92 and a beta of 1.52. 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 fifty day moving average of $26.59 and a 200-day moving average of $28.24.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 earnings per share (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 analyst estimates of $900.59 million. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.50 earnings per share. Equities research analysts anticipate 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. Investors of record on Thursday, July 3rd will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.45%. The ex-dividend date is Thursday, July 3rd. ChampionX’s dividend payout ratio is 25.17%.

ChampionX 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.