ChampionX Co. (NASDAQ:CHX) Stake Lessened by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE trimmed its stake in shares of ChampionX Co. (NASDAQ:CHX) by 22.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,695 shares of the company’s stock after selling 3,866 shares during the quarter. Congress Wealth Management LLC DE’s holdings in ChampionX were worth $372,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CHX. Healthcare of Ontario Pension Plan Trust Fund grew its stake in ChampionX by 18.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 295,105 shares of the company’s stock worth $8,897,000 after purchasing an additional 45,105 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in ChampionX by 2.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,952 shares of the company’s stock worth $1,295,000 after buying an additional 1,011 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of ChampionX by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 497,571 shares of the company’s stock worth $15,002,000 after acquiring an additional 7,569 shares in the last quarter. Verition Fund Management LLC grew its position in shares of ChampionX by 164.7% in the 3rd quarter. Verition Fund Management LLC now owns 320,100 shares of the company’s stock worth $9,651,000 after acquiring an additional 199,169 shares in the last quarter. Finally, Westchester Capital Management LLC increased its holdings in shares of ChampionX by 67.8% in the 3rd quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company’s stock valued at $85,268,000 after acquiring an additional 1,142,628 shares during the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

ChampionX Stock Performance

Shares of CHX opened at $29.87 on Friday. The stock has a market capitalization of $5.70 billion, a PE ratio of 18.10 and a beta of 2.28. The business’s fifty day moving average price is $29.44 and its 200 day moving average price is $29.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36. ChampionX Co. has a 12-month low of $25.57 and a 12-month high of $39.95.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. Equities research analysts forecast that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.27%. ChampionX’s dividend payout ratio is currently 23.03%.

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.