Quantbot Technologies LP Invests $2.05 Million in ChampionX Co. (NASDAQ:CHX)

Quantbot Technologies LP acquired a new stake in shares of ChampionX Co. (NASDAQ:CHX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 68,138 shares of the company’s stock, valued at approximately $2,054,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC increased its holdings in ChampionX by 12,607.0% during the second quarter. Millennium Management LLC now owns 3,120,847 shares of the company’s stock valued at $103,643,000 after buying an additional 3,096,287 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in ChampionX by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,623,131 shares of the company’s stock worth $79,087,000 after purchasing an additional 84,875 shares during the period. Magnetar Financial LLC purchased a new stake in shares of ChampionX in the second quarter worth about $72,860,000. Fiera Capital Corp increased its position in ChampionX by 1.2% in the second quarter. Fiera Capital Corp now owns 1,299,611 shares of the company’s stock worth $43,160,000 after purchasing an additional 15,326 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in ChampionX by 4.6% during the third quarter. Westfield Capital Management Co. LP now owns 1,133,863 shares of the company’s stock valued at $34,186,000 after purchasing an additional 50,120 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Insider Buying and Selling at ChampionX

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

Wall Street Analyst Weigh In

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

ChampionX Stock Up 0.5 %

NASDAQ CHX opened at $30.70 on Friday. ChampionX Co. has a 52 week low of $25.46 and a 52 week high of $39.95. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 19.07 and a beta of 2.38. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average of $30.53 and a two-hundred day moving average of $31.49.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm 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 business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, analysts predict that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Friday, January 3rd. ChampionX’s payout ratio is currently 23.60%.

About ChampionX

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.