Woodline Partners LP Increases Stock Position in ChampionX Co. (NASDAQ:CHX)

Woodline Partners LP raised its stake in shares of ChampionX Co. (NASDAQ:CHX) by 8.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 500,000 shares of the company’s stock after buying an additional 40,000 shares during the period. Woodline Partners LP owned about 0.26% of ChampionX worth $13,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CHX. Jones Financial Companies Lllp increased its position in ChampionX by 153.2% during the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company’s stock valued at $25,000 after acquiring an additional 559 shares during the last quarter. Venturi Wealth Management LLC increased its position in ChampionX by 1,051.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock valued at $51,000 after acquiring an additional 1,725 shares during the last quarter. R Squared Ltd purchased a new stake in ChampionX during the fourth quarter valued at $103,000. Vestcor Inc increased its position in ChampionX by 71.6% during the fourth quarter. Vestcor Inc now owns 5,032 shares of the company’s stock valued at $137,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in ChampionX by 82,557.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company’s stock valued at $157,000 after acquiring an additional 5,779 shares during the last quarter. 98.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

ChampionX Trading Down 2.1%

NASDAQ:CHX opened at $24.63 on Thursday. 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 firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 14.93 and a beta of 1.52. ChampionX Co. has a one year low of $21.92 and a one year high of $35.94. The business has a fifty day moving average price of $26.17 and a 200-day moving average price of $28.13.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 EPS 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 analyst estimates of $900.59 million. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. ChampionX’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 EPS. Sell-side analysts forecast that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a $0.095 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.38 annualized dividend and a dividend yield of 1.54%. ChampionX’s dividend payout ratio (DPR) 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.