ChampionX Co. (NASDAQ:CHX) Shares Bought by Gotham Asset Management LLC

Gotham Asset Management LLC grew its stake in shares of ChampionX Co. (NASDAQ:CHX) by 77.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 85,472 shares of the company’s stock after acquiring an additional 37,196 shares during the period. Gotham Asset Management LLC’s holdings in ChampionX were worth $2,324,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Arizona State Retirement System raised 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 acquiring an additional 436 shares in the last quarter. Pacer Advisors Inc. grew its position in ChampionX by 1.9% during the fourth quarter. Pacer Advisors Inc. now owns 28,394 shares of the company’s stock worth $772,000 after buying an additional 532 shares in the last quarter. Jones Financial Companies Lllp grew its position in 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 buying an additional 559 shares in the last quarter. Hudson Edge Investment Partners Inc. grew its position in ChampionX by 4.8% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 15,150 shares of the company’s stock worth $412,000 after buying an additional 700 shares in the last quarter. Finally, Ethic Inc. boosted its holdings in ChampionX by 6.4% during the fourth quarter. Ethic Inc. now owns 13,938 shares of the company’s stock valued at $379,000 after purchasing an additional 833 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Stock Performance

CHX stock opened at $26.00 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36. The company has a 50 day moving average price of $26.45 and a 200 day moving average price of $28.20. ChampionX Co. has a fifty-two week low of $21.92 and a fifty-two week high of $35.94. The stock has a market capitalization of $4.98 billion, a PE ratio of 15.76 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 analysts’ expectations of $900.59 million. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. Analysts forecast that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Thursday, July 3rd. ChampionX’s dividend payout ratio is currently 25.17%.

Wall Street Analyst Weigh In

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

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.