Fisher Asset Management LLC Raises Position in ChampionX Co. (NASDAQ:CHX)

Fisher Asset Management LLC boosted its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 7.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 347,880 shares of the company’s stock after buying an additional 24,862 shares during the period. Fisher Asset Management LLC’s holdings in ChampionX were worth $10,489,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. raised its position in shares of ChampionX by 1.6% during the 2nd quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company’s stock valued at $713,000 after buying an additional 340 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in ChampionX by 2.4% during the third quarter. Nisa Investment Advisors LLC now owns 21,126 shares of the company’s stock worth $637,000 after purchasing an additional 487 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of ChampionX by 1.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 54,454 shares of the company’s stock worth $1,642,000 after purchasing an additional 772 shares in the last quarter. UMB Bank n.a. increased its position in shares of ChampionX by 63.7% during the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after purchasing an additional 882 shares during the last quarter. Finally, AMG National Trust Bank raised its holdings in shares of ChampionX by 2.9% during the 3rd quarter. AMG National Trust Bank now owns 31,399 shares of the company’s stock valued at $947,000 after buying an additional 882 shares in the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

ChampionX Trading Up 0.5 %

CHX opened at $30.70 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.33. ChampionX Co. has a 52 week low of $25.46 and a 52 week high of $39.95. The stock has a market cap of $5.85 billion, a PE ratio of 19.07 and a beta of 2.38. The business has a 50 day moving average of $30.51 and a 200-day moving average of $31.50.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The business had revenue of $906.53 million during the quarter, compared to analysts’ expectations of $916.50 million. During the same quarter last year, the company posted $0.41 EPS. ChampionX’s revenue for the quarter was down 3.5% compared to the same quarter last year. Equities research analysts predict that ChampionX Co. will post 1.66 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX’s payout ratio is 23.60%.

Analysts Set New Price Targets

Separately, Citigroup cut their target price on ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 14th.

Insider Buying and Selling

In other news, insider Deric D. Bryant sold 49,303 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the transaction, the insider now directly owns 337,409 shares of the company’s stock, valued at $10,142,514.54. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.38% of the stock is owned by company insiders.

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.