Orion Portfolio Solutions LLC Has $1.62 Million Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Orion Portfolio Solutions LLC lowered its position in shares of ChampionX Co. (NASDAQ:CHX) by 5.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,814 shares of the company’s stock after selling 2,895 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in ChampionX were worth $1,623,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in ChampionX in the 3rd quarter valued at $783,000. Wellington Management Group LLP increased its stake in shares of ChampionX by 1.2% in the third quarter. Wellington Management Group LLP now owns 425,287 shares of the company’s stock valued at $12,822,000 after buying an additional 4,844 shares in the last quarter. Weiss Asset Management LP acquired a new stake in shares of ChampionX in the third quarter valued at $492,000. State Street Corp raised its holdings in shares of ChampionX by 1.7% in the third quarter. State Street Corp now owns 7,422,097 shares of the company’s stock valued at $223,776,000 after buying an additional 122,622 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in ChampionX by 3.9% during the 3rd quarter. Stifel Financial Corp now owns 153,756 shares of the company’s stock worth $4,636,000 after buying an additional 5,833 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Citigroup lowered their price objective on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, November 14th.

Insider Transactions at ChampionX

In related news, insider Deric D. Bryant sold 49,303 shares of ChampionX stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the completion of the sale, the insider now directly owns 337,409 shares of the company’s stock, valued at $10,142,514.54. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.38% of the stock is owned by corporate insiders.

ChampionX Stock Down 2.2 %

Shares of CHX opened at $28.49 on Friday. The business’s fifty day moving average price is $30.26 and its two-hundred day moving average price is $31.18. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 17.70 and a beta of 2.38. ChampionX Co. has a 52 week low of $25.46 and a 52 week high of $39.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $906.53 million for the quarter, compared to analyst estimates of $916.50 million. ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same period last year, the company earned $0.41 EPS. On average, analysts predict that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be paid a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Friday, January 3rd. ChampionX’s dividend payout ratio (DPR) is presently 23.60%.

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.