ChampionX Co. (NASDAQ:CHX) Insider Deric D. Bryant Sells 49,303 Shares of Stock

ChampionX Co. (NASDAQ:CHX) insider Deric D. Bryant sold 49,303 shares of ChampionX stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the transaction, the insider now directly owns 337,409 shares of the company’s stock, valued at approximately $10,142,514.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

ChampionX Price Performance

ChampionX stock opened at $30.86 on Friday. The company’s fifty day moving average price is $30.08 and its 200 day moving average price is $31.83. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. The stock has a market capitalization of $5.88 billion, a P/E ratio of 19.17 and a beta of 2.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94.

ChampionX (NASDAQ:CHX) last posted 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). ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The company had revenue of $906.53 million for the quarter, compared to analysts’ expectations of $916.50 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The firm’s revenue was down 3.5% on a year-over-year basis. As a group, equities research analysts anticipate that ChampionX Co. will post 1.66 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were issued a dividend of $0.095 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.23%. ChampionX’s dividend payout ratio is presently 23.60%.

Institutional Trading of ChampionX

Several institutional investors and hedge funds have recently bought and sold shares of CHX. Legend Financial Advisors Inc. increased its stake in ChampionX by 1.6% during the second quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company’s stock worth $713,000 after purchasing an additional 340 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of ChampionX by 2.4% in the third quarter. Nisa Investment Advisors LLC now owns 21,126 shares of the company’s stock valued at $637,000 after acquiring an additional 487 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of ChampionX in the first quarter valued at approximately $27,000. UMB Bank n.a. boosted its holdings in shares of ChampionX by 63.7% in the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after acquiring an additional 882 shares during the period. Finally, AMG National Trust Bank boosted its holdings in shares of ChampionX by 2.9% in the third quarter. AMG National Trust Bank now owns 31,399 shares of the company’s stock valued at $947,000 after acquiring an additional 882 shares during the period. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their price target on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th.

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.