Swiss National Bank raised its holdings in shares of ChampionX Co. (NASDAQ:CHX – Free Report) by 0.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 431,022 shares of the company’s stock after acquiring an additional 700 shares during the period. Swiss National Bank’s holdings in ChampionX were worth $13,379,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC grew its position in ChampionX by 4.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,037 shares of the company’s stock worth $281,000 after buying an additional 358 shares in the last quarter. Dakota Wealth Management boosted its holdings in shares of ChampionX by 4.5% in the 2nd quarter. Dakota Wealth Management now owns 9,337 shares of the company’s stock worth $290,000 after purchasing an additional 402 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of ChampionX by 10.0% in the 2nd quarter. National Bank of Canada FI now owns 4,855 shares of the company’s stock worth $151,000 after purchasing an additional 440 shares in the last quarter. Mariner LLC boosted its holdings in shares of ChampionX by 3.2% in the 1st quarter. Mariner LLC now owns 22,146 shares of the company’s stock worth $542,000 after purchasing an additional 694 shares in the last quarter. Finally, Creative Planning boosted its holdings in shares of ChampionX by 0.8% in the 2nd quarter. Creative Planning now owns 97,934 shares of the company’s stock worth $1,944,000 after purchasing an additional 803 shares in the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on CHX. Stifel Nicolaus cut their price objective on ChampionX from $41.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, October 26th. The Goldman Sachs Group cut their price objective on ChampionX from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, November 14th. Barclays upgraded ChampionX from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $33.00 to $42.00 in a report on Tuesday, October 17th. Finally, Piper Sandler cut their price objective on ChampionX from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, October 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.50.
Insider Buying and Selling at ChampionX
In other ChampionX news, insider Deric D. Bryant sold 18,772 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $37.07, for a total transaction of $695,878.04. Following the sale, the insider now directly owns 317,391 shares in the company, valued at approximately $11,765,684.37. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Deric D. Bryant sold 18,772 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $37.07, for a total value of $695,878.04. Following the transaction, the insider now directly owns 317,391 shares in the company, valued at approximately $11,765,684.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Deric D. Bryant sold 12,232 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $35.24, for a total value of $431,055.68. Following the completion of the transaction, the insider now owns 305,159 shares in the company, valued at $10,753,803.16. The disclosure for this sale can be found here. Company insiders own 1.22% of the company’s stock.
ChampionX Trading Up 0.7 %
CHX opened at $29.63 on Tuesday. The business has a 50 day simple moving average of $33.25 and a two-hundred day simple moving average of $32.30. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 0.62 and a beta of 2.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.87 and a quick ratio of 1.13. ChampionX Co. has a one year low of $23.66 and a one year high of $38.37.
ChampionX (NASDAQ:CHX – Get Free Report) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.08). The company had revenue of $939.78 million during the quarter, compared to analysts’ expectations of $966.78 million. ChampionX had a return on equity of 20.17% and a net margin of 8.02%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 EPS. Analysts predict that ChampionX Co. will post 1.77 EPS for the current year.
ChampionX Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be paid a $0.085 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.34 annualized dividend and a dividend yield of 1.15%. ChampionX’s payout ratio is currently 22.52%.
ChampionX Company Profile
ChampionX Corporation provides chemistry solutions, 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.
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