Teza Capital Management LLC Takes Position in ChampionX Co. (NASDAQ:CHX)

Teza Capital Management LLC purchased a new position in shares of ChampionX Co. (NASDAQ:CHX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,202 shares of the company’s stock, valued at approximately $277,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of ChampionX by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 19,964,329 shares of the company’s stock worth $542,830,000 after purchasing an additional 227,627 shares during the last quarter. 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 buying an additional 414,995 shares in the last quarter. Northern Trust Corp boosted its position in ChampionX by 10.9% in the 4th quarter. Northern Trust Corp now owns 2,917,978 shares of the company’s stock valued at $79,340,000 after buying an additional 286,853 shares during the period. AQR Arbitrage LLC grew its stake in ChampionX by 7.4% in the 4th quarter. AQR Arbitrage LLC now owns 2,808,543 shares of the company’s stock worth $75,859,000 after acquiring an additional 194,219 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of ChampionX during the fourth quarter worth approximately $74,032,000. 98.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

ChampionX Stock Down 1.4%

NASDAQ:CHX opened at $25.15 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36. ChampionX Co. has a 1-year low of $21.92 and a 1-year high of $35.94. The company has a 50-day moving average of $26.27 and a 200 day moving average of $28.15. The firm has a market cap of $4.81 billion, a PE ratio of 15.24 and a beta of 1.52.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.09. The firm 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 company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 EPS. As a group, research analysts anticipate that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, July 3rd. ChampionX’s dividend payout ratio (DPR) is currently 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.