Park Avenue Securities LLC increased its stake in shares of ChampionX Co. (NASDAQ:CHX – Get Rating) by 105.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,260 shares of the company’s stock after acquiring an additional 8,841 shares during the quarter. Park Avenue Securities LLC’s holdings in ChampionX were worth $343,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. increased its stake in ChampionX by 0.5% in the first quarter. BlackRock Inc. now owns 24,501,257 shares of the company’s stock valued at $599,791,000 after purchasing an additional 126,529 shares during the period. Vanguard Group Inc. boosted its holdings in shares of ChampionX by 0.7% in the first quarter. Vanguard Group Inc. now owns 19,915,020 shares of the company’s stock valued at $487,520,000 after acquiring an additional 132,397 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of ChampionX by 35.6% in the first quarter. Van ECK Associates Corp now owns 7,873,500 shares of the company’s stock valued at $192,743,000 after acquiring an additional 2,065,566 shares in the last quarter. State Street Corp boosted its holdings in shares of ChampionX by 9.4% in the first quarter. State Street Corp now owns 7,054,490 shares of the company’s stock valued at $172,694,000 after acquiring an additional 606,335 shares in the last quarter. Finally, Gates Capital Management Inc. boosted its holdings in shares of ChampionX by 36.1% in the first quarter. Gates Capital Management Inc. now owns 6,653,209 shares of the company’s stock valued at $162,871,000 after acquiring an additional 1,766,481 shares in the last quarter. 98.74% of the stock is currently owned by institutional investors and hedge funds.
ChampionX Stock Up 4.0 %
CHX stock opened at $23.09 on Thursday. The company has a market cap of $4.69 billion, a P/E ratio of 29.23, a P/E/G ratio of 0.37 and a beta of 2.52. ChampionX Co. has a 52 week low of $16.64 and a 52 week high of $28.08. The company’s 50-day moving average price is $21.41 and its 200 day moving average price is $21.58. The company has a current ratio of 1.95, a quick ratio of 1.15 and a debt-to-equity ratio of 0.39.
ChampionX (NASDAQ:CHX – Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. ChampionX had a net margin of 4.78% and a return on equity of 10.79%. The company had revenue of $932.57 million for the quarter, compared to the consensus estimate of $897.30 million. During the same quarter in the prior year, the firm earned $0.11 earnings per share. On average, research analysts expect that ChampionX Co. will post 1.2 earnings per share for the current fiscal year.
ChampionX Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Thursday, October 6th. ChampionX’s dividend payout ratio (DPR) is presently 37.98%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of ChampionX from $26.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, July 13th. Barclays downgraded shares of ChampionX from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $38.00 to $28.00 in a report on Thursday, October 6th. Bank of America raised shares of ChampionX from a “neutral” rating to a “buy” rating and lowered their target price for the company from $25.00 to $22.00 in a report on Friday, July 15th. Finally, Benchmark assumed coverage on shares of ChampionX in a report on Wednesday, August 24th. They set a “buy” rating and a $32.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, ChampionX presently has an average rating of “Moderate Buy” and a consensus price target of $26.60.
ChampionX Profile
(Get Rating)
ChampionX Corporation provides chemistry solutions, and engineered equipment and technologies to oil and gas companies worldwide. The company’s Production Chemical Technologies segment offers onshore and offshore chemical solutions, such as corrosion inhibitors, scale inhibitors, emulsion breakers, and biocides to oil and natural gas production and midstream markets to manage and control corrosion, oil and water separation, flow assurance, sour gas treatment, and water-related issues.
Featured Articles
Want to see what other hedge funds are holding CHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ChampionX Co. (NASDAQ:CHX – Get Rating).
Receive News & Ratings for ChampionX Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for ChampionX and related companies with MarketBeat.com’s FREE daily email newsletter.
