Entropy Technologies LP Sells 16,498 Shares of ChampionX Co. (NASDAQ:CHX)

Entropy Technologies LP trimmed its position in ChampionX Co. (NASDAQ:CHX) by 41.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 22,987 shares of the company’s stock after selling 16,498 shares during the period. Entropy Technologies LP’s holdings in ChampionX were worth $693,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in shares of ChampionX in the 1st quarter valued at $27,000. Blue Trust Inc. raised its position in ChampionX by 442.4% during the 3rd quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock worth $44,000 after purchasing an additional 1,084 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in ChampionX during the 2nd quarter worth $68,000. UMB Bank n.a. raised its position in ChampionX by 63.7% during the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after purchasing an additional 882 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in ChampionX during the 2nd quarter worth $194,000. 98.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ChampionX

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of ChampionX stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the transaction, the insider now owns 337,409 shares of the company’s stock, valued at $10,142,514.54. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.38% of the company’s stock.

ChampionX Stock Performance

Shares of CHX opened at $30.88 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.20. The stock has a 50-day moving average of $30.18 and a 200-day moving average of $31.70. The company has a market cap of $5.88 billion, a PE ratio of 19.18 and a beta of 2.38. ChampionX Co. has a one year low of $25.46 and a one year high of $39.95.

ChampionX (NASDAQ:CHX) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company 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%. ChampionX’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. On average, equities research analysts predict that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were paid a dividend of $0.095 per share. The ex-dividend date was Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.23%. ChampionX’s dividend payout ratio (DPR) is currently 23.60%.

Analyst Ratings Changes

Separately, Citigroup decreased their price target on ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday.

ChampionX Company 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.