Brown Advisory Inc. lifted its stake in ChampionX Co. (NASDAQ:CHX – Free Report) by 1.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,364,676 shares of the company’s stock after acquiring an additional 110,956 shares during the quarter. Brown Advisory Inc. owned 3.27% of ChampionX worth $185,912,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. FMR LLC lifted its holdings in ChampionX by 20.2% during the 3rd quarter. FMR LLC now owns 7,109,432 shares of the company’s stock worth $253,238,000 after buying an additional 1,193,122 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of ChampionX by 136.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,022,461 shares of the company’s stock valued at $36,420,000 after purchasing an additional 590,680 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of ChampionX by 28.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,426,407 shares of the company’s stock valued at $86,429,000 after purchasing an additional 538,555 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of ChampionX by 11.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,433,718 shares of the company’s stock valued at $100,305,000 after purchasing an additional 349,035 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its position in shares of ChampionX by 51.6% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 601,358 shares of the company’s stock valued at $17,566,000 after buying an additional 204,640 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at ChampionX
In other news, insider William Jr. O’dell sold 27,178 shares of ChampionX stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $36.00, for a total transaction of $978,408.00. Following the completion of the sale, the insider now directly owns 57,748 shares in the company, valued at $2,078,928. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.38% of the stock is currently owned by insiders.
ChampionX Stock Performance
Shares of CHX stock traded up $0.17 during mid-day trading on Friday, hitting $34.36. The stock had a trading volume of 1,048,711 shares, compared to its average volume of 1,931,602. ChampionX Co. has a fifty-two week low of $24.98 and a fifty-two week high of $39.95. The firm has a market cap of $6.54 billion, a PE ratio of 18.67, a PEG ratio of 1.09 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. The company’s 50-day simple moving average is $35.13 and its 200-day simple moving average is $31.28.
ChampionX (NASDAQ:CHX – Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.40 by $0.10. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. The firm had revenue of $922.14 million during the quarter, compared to analysts’ expectations of $922.13 million. Sell-side analysts anticipate that ChampionX Co. will post 1.95 earnings per share for the current year.
ChampionX Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.38 annualized dividend and a yield of 1.11%. ChampionX’s dividend payout ratio (DPR) is currently 20.65%.
Wall Street Analyst Weigh In
CHX has been the topic of a number of recent analyst reports. Barclays increased their target price on shares of ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Piper Sandler raised their price objective on shares of ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Citigroup raised their price objective on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ChampionX presently has an average rating of “Moderate Buy” and a consensus price target of $40.33.
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.