ChampionX Co. (NASDAQ:CHX) Position Boosted by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT raised its holdings in shares of ChampionX Co. (NASDAQ:CHXFree Report) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,593 shares of the company’s stock after acquiring an additional 8,004 shares during the quarter. Iridian Asset Management LLC CT owned approximately 0.07% of ChampionX worth $4,078,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. NewEdge Advisors LLC grew its stake in ChampionX by 654.0% during the 1st quarter. NewEdge Advisors LLC now owns 1,870 shares of the company’s stock valued at $51,000 after acquiring an additional 1,622 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of ChampionX by 19.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock valued at $77,000 after buying an additional 352 shares in the last quarter. Covestor Ltd grew its stake in shares of ChampionX by 683.0% in the 1st quarter. Covestor Ltd now owns 2,216 shares of the company’s stock valued at $54,000 after buying an additional 1,933 shares in the last quarter. Penserra Capital Management LLC bought a new stake in shares of ChampionX in the 3rd quarter valued at approximately $96,000. Finally, Mendota Financial Group LLC bought a new stake in shares of ChampionX in the 4th quarter valued at approximately $114,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Insiders Place Their Bets

In other ChampionX news, insider William Jr. O’dell sold 27,178 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $36.00, for a total transaction of $978,408.00. Following the transaction, the insider now owns 57,748 shares in the company, valued at approximately $2,078,928. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.22% of the company’s stock.

ChampionX Trading Down 0.4 %

NASDAQ CHX opened at $38.50 on Friday. The company has a market cap of $7.36 billion, a PE ratio of 24.52, a PEG ratio of 1.22 and a beta of 2.44. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36. ChampionX Co. has a 12 month low of $24.98 and a 12 month high of $39.95. The stock has a 50 day moving average of $32.69 and a 200-day moving average of $31.13.

ChampionX (NASDAQ:CHXGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. ChampionX had a return on equity of 20.14% and a net margin of 8.36%. The company had revenue of $943.56 million during the quarter, compared to the consensus estimate of $947.33 million. During the same quarter in the prior year, the firm posted $0.43 EPS. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities research analysts anticipate that ChampionX Co. will post 1.95 EPS for the current fiscal year.

ChampionX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be given a dividend of $0.095 per share. This is a boost from ChampionX’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, April 4th. This represents a $0.38 annualized dividend and a yield of 0.99%. ChampionX’s dividend payout ratio (DPR) is presently 24.20%.

Analysts Set New Price Targets

CHX has been the subject of several recent research reports. Piper Sandler boosted their price target on ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday. Citigroup boosted their target price on ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Finally, Barclays boosted their target price on ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.33.

View Our Latest Analysis on CHX

ChampionX Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ChampionX (NASDAQ:CHX)

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