ChampionX Co. (NASDAQ:CHX) Shares Bought by Magnetar Financial LLC

Magnetar Financial LLC raised its stake in ChampionX Co. (NASDAQ:CHX) by 2.2% during the fourth quarter, Holdings Channel reports. The firm owned 2,344,608 shares of the company’s stock after purchasing an additional 50,545 shares during the period. ChampionX makes up about 1.5% of Magnetar Financial LLC’s holdings, making the stock its 17th biggest holding. Magnetar Financial LLC’s holdings in ChampionX were worth $63,750,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CHX. Victory Capital Management Inc. boosted its holdings in shares of ChampionX by 19.0% in the 3rd quarter. Victory Capital Management Inc. now owns 58,478 shares of the company’s stock valued at $1,763,000 after purchasing an additional 9,333 shares during the last quarter. KBC Group NV boosted its holdings in shares of ChampionX by 18.3% in the 3rd quarter. KBC Group NV now owns 5,827 shares of the company’s stock valued at $176,000 after purchasing an additional 903 shares during the last quarter. AMG National Trust Bank boosted its holdings in shares of ChampionX by 2.9% in the 3rd quarter. AMG National Trust Bank now owns 31,399 shares of the company’s stock valued at $947,000 after purchasing an additional 882 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of ChampionX by 1.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 54,454 shares of the company’s stock valued at $1,642,000 after purchasing an additional 772 shares during the last quarter. Finally, Alpine Associates Management Inc. lifted its holdings in shares of ChampionX by 103.9% during the 3rd quarter. Alpine Associates Management Inc. now owns 723,516 shares of the company’s stock valued at $21,814,000 after acquiring an additional 368,616 shares in the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Stock Performance

NASDAQ:CHX opened at $29.49 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 17.87 and a beta of 2.28. The firm’s fifty day simple moving average is $29.26 and its 200 day simple moving average is $29.45. ChampionX Co. has a twelve month low of $25.57 and a twelve month high of $39.95.

ChampionX (NASDAQ:CHX) last posted its earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. As a group, equities research analysts expect that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.29%. ChampionX’s payout ratio is 23.03%.

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.