Algert Global LLC Has $5.68 Million Stake in ChampionX Co. (NASDAQ:CHX)

Algert Global LLC lifted its holdings in ChampionX Co. (NASDAQ:CHX) by 5.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 188,309 shares of the company’s stock after buying an additional 8,914 shares during the period. Algert Global LLC owned approximately 0.10% of ChampionX worth $5,678,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bayesian Capital Management LP bought a new position in ChampionX in the first quarter valued at $1,052,000. Point72 DIFC Ltd bought a new position in ChampionX in the second quarter valued at $623,000. Quest Partners LLC increased its stake in ChampionX by 86.8% in the third quarter. Quest Partners LLC now owns 69,102 shares of the company’s stock valued at $2,083,000 after acquiring an additional 32,103 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of ChampionX by 8.1% during the second quarter. New York State Teachers Retirement System now owns 231,551 shares of the company’s stock valued at $7,690,000 after buying an additional 17,259 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of ChampionX during the second quarter valued at about $20,677,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Stock Down 0.1 %

Shares of NASDAQ:CHX opened at $31.24 on Friday. The stock’s 50-day moving average price is $30.46 and its 200-day moving average price is $31.57. ChampionX Co. has a 12-month low of $25.46 and a 12-month high of $39.95. The stock has a market capitalization of $5.95 billion, a P/E ratio of 19.40 and a beta of 2.38. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33.

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

ChampionX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be paid a $0.095 dividend. The ex-dividend date is Friday, January 3rd. This represents a $0.38 annualized dividend and a dividend yield of 1.22%. ChampionX’s payout ratio is presently 23.60%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

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

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.