Harbor Capital Advisors Inc. Buys 3,931 Shares of ChampionX Co. (NASDAQ:CHX)

Harbor Capital Advisors Inc. increased its stake in shares of ChampionX Co. (NASDAQ:CHX) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,889 shares of the company’s stock after acquiring an additional 3,931 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in ChampionX were worth $3,559,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CHX. Choreo LLC bought a new position in shares of ChampionX in the 2nd quarter worth $225,000. Cornercap Investment Counsel Inc. acquired a new position in shares of ChampionX during the second quarter valued at about $536,000. DekaBank Deutsche Girozentrale bought a new stake in shares of ChampionX during the second quarter worth about $68,000. Meeder Advisory Services Inc. raised its holdings in shares of ChampionX by 16.4% in the 2nd quarter. Meeder Advisory Services Inc. now owns 6,531 shares of the company’s stock worth $217,000 after acquiring an additional 918 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in ChampionX by 10.0% in the 2nd quarter. Federated Hermes Inc. now owns 798,279 shares of the company’s stock valued at $26,511,000 after acquiring an additional 72,549 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ChampionX

In other news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.38% of the company’s stock.

ChampionX Stock Performance

NASDAQ CHX opened at $27.38 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.20. The company has a fifty day moving average price of $29.00 and a 200-day moving average price of $30.55. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 17.01 and a beta of 2.36.

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

ChampionX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be given a $0.095 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.38 annualized dividend and a yield of 1.39%. ChampionX’s dividend payout ratio is currently 23.60%.

Wall Street Analysts Forecast Growth

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

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.