IFP Advisors Inc Purchases 1,401 Shares of ChampionX Co. (NASDAQ:CHX)

IFP Advisors Inc lifted its position in ChampionX Co. (NASDAQ:CHX) by 21.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,058 shares of the company’s stock after buying an additional 1,401 shares during the period. IFP Advisors Inc’s holdings in ChampionX were worth $175,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its holdings in shares of ChampionX by 30.9% in the 4th quarter. First Horizon Advisors Inc. now owns 3,134 shares of the company’s stock valued at $47,000 after acquiring an additional 740 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of ChampionX by 11.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 7,439 shares of the company’s stock valued at $114,000 after acquiring an additional 779 shares in the last quarter. Retirement Systems of Alabama grew its holdings in shares of ChampionX by 0.5% in the 1st quarter. Retirement Systems of Alabama now owns 243,336 shares of the company’s stock valued at $5,288,000 after acquiring an additional 1,094 shares in the last quarter. Creative Planning grew its holdings in shares of ChampionX by 1.2% in the 4th quarter. Creative Planning now owns 97,464 shares of the company’s stock valued at $1,491,000 after acquiring an additional 1,158 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of ChampionX by 6.6% in the 4th quarter. Victory Capital Management Inc. now owns 30,464 shares of the company’s stock valued at $466,000 after acquiring an additional 1,876 shares in the last quarter. Institutional investors and hedge funds own 99.47% of the company’s stock.

Several equities analysts have recently weighed in on CHX shares. Zacks Investment Research upgraded ChampionX from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Thursday, May 6th. Wells Fargo & Company raised their target price on shares of ChampionX from $19.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, February 25th. Piper Sandler raised their target price on shares of ChampionX from $12.25 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, March 3rd. Cowen raised their target price on shares of ChampionX from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, February 25th. Finally, Credit Suisse Group raised their target price on shares of ChampionX from $18.50 to $21.50 and gave the company an “outperform” rating in a research note on Wednesday, March 3rd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.73.

In related news, CAO Antoine Marcos sold 12,030 shares of ChampionX stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of $23.34, for a total value of $280,780.20. Following the transaction, the chief accounting officer now directly owns 47,475 shares of the company’s stock, valued at $1,108,066.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Julia Wright sold 8,125 shares of ChampionX stock in a transaction that occurred on Friday, May 7th. The shares were sold at an average price of $24.58, for a total transaction of $199,712.50. Following the completion of the transaction, the vice president now directly owns 54,347 shares in the company, valued at $1,335,849.26. The disclosure for this sale can be found here. Insiders sold 37,705 shares of company stock worth $888,179 over the last three months. 0.58% of the stock is currently owned by insiders.

NASDAQ CHX opened at $25.77 on Monday. The company has a current ratio of 2.15, a quick ratio of 1.33 and a debt-to-equity ratio of 0.62. ChampionX Co. has a 1-year low of $6.87 and a 1-year high of $26.30. The company has a 50 day moving average of $21.69 and a 200-day moving average of $17.46. The company has a market cap of $5.19 billion, a price-to-earnings ratio of -2.71 and a beta of 3.41.

ChampionX (NASDAQ:CHX) last released its quarterly earnings results on Wednesday, April 28th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. ChampionX had a negative net margin of 54.03% and a negative return on equity of 2.67%. The company had revenue of $684.89 million during the quarter, compared to the consensus estimate of $667.73 million. During the same period in the previous year, the business earned $0.03 earnings per share. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. On average, equities research analysts forecast that ChampionX Co. will post -0.11 earnings per share for the current year.

About ChampionX

ChampionX Corporation provides chemistry solutions, and engineered equipment and technologies to oil and gas companies worldwide. The company's Production Chemical Technologies segment offers onshore and offshore chemical solutions, such as corrosion inhibitors, scale inhibitors, emulsion breakers, and biocides to oil and natural gas production and midstream markets to manage and control corrosion, oil and water separation, flow assurance, sour gas treatment, and water-related issues.

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Institutional Ownership by Quarter for ChampionX (NASDAQ:CHX)

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