Atria Wealth Solutions Inc. Cuts Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Atria Wealth Solutions Inc. lessened its stake in ChampionX Co. (NASDAQ:CHX) by 6.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,265 shares of the company’s stock after selling 683 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in ChampionX were worth $300,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC acquired a new stake in ChampionX in the 4th quarter valued at about $26,000. Parkside Financial Bank & Trust grew its stake in shares of ChampionX by 19.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock valued at $77,000 after buying an additional 352 shares during the period. Mendota Financial Group LLC purchased a new position in ChampionX during the fourth quarter worth about $114,000. SG Americas Securities LLC grew its stake in shares of ChampionX by 16.9% in the third quarter. SG Americas Securities LLC now owns 4,479 shares of the company’s stock valued at $160,000 after buying an additional 649 shares in the last quarter. Finally, Prudent Man Advisors LLC acquired a new position in shares of ChampionX in the third quarter valued at approximately $201,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CHX shares. Piper Sandler boosted their target price on shares of ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Barclays increased their price target on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Citigroup raised their target price on ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, ChampionX has a consensus rating of “Moderate Buy” and an average target price of $40.33.

ChampionX Price Performance

ChampionX stock opened at $33.88 on Thursday. ChampionX Co. has a 12-month low of $24.98 and a 12-month high of $39.95. The firm’s 50-day moving average is $34.69 and its two-hundred day moving average is $31.13. The stock has a market capitalization of $6.45 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.06 and a beta of 2.45. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.83 and a quick ratio of 1.16.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.40 by $0.10. The company had revenue of $922.14 million during the quarter, compared to analysts’ expectations of $922.13 million. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. Equities analysts predict that ChampionX Co. will post 1.95 earnings per share for the current year.

ChampionX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 5th were paid a $0.095 dividend. This is a positive change from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Thursday, April 4th. ChampionX’s payout ratio is currently 20.65%.

Insider Transactions at ChampionX

In related news, insider William Jr. O’dell sold 27,178 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $36.00, for a total value of $978,408.00. Following the completion of the transaction, the insider now owns 57,748 shares of the company’s stock, valued at $2,078,928. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.38% of the company’s stock.

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.