Cornercap Investment Counsel Inc. Has $243,000 Stock Position in ChampionX Co. (NASDAQ:CHX)

Cornercap Investment Counsel Inc. lowered its holdings in ChampionX Co. (NASDAQ:CHX) by 50.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,049 shares of the company’s stock after selling 8,105 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in ChampionX were worth $243,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of ChampionX during the 1st quarter worth approximately $27,000. State Board of Administration of Florida Retirement System grew its holdings in ChampionX by 17.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 66,466 shares of the company’s stock worth $2,385,000 after acquiring an additional 9,635 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of ChampionX by 4.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 67,349 shares of the company’s stock valued at $2,417,000 after acquiring an additional 2,881 shares during the last quarter. EntryPoint Capital LLC lifted its stake in shares of ChampionX by 18.9% in the 1st quarter. EntryPoint Capital LLC now owns 5,817 shares of the company’s stock valued at $209,000 after purchasing an additional 923 shares during the period. Finally, Mount Yale Investment Advisors LLC grew its stake in shares of ChampionX by 72.1% during the first quarter. Mount Yale Investment Advisors LLC now owns 26,667 shares of the company’s stock worth $957,000 after purchasing an additional 11,176 shares during the period. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Trading Up 0.8 %

CHX opened at $30.87 on Tuesday. ChampionX Co. has a twelve month low of $25.46 and a twelve month high of $39.95. The firm has a market cap of $5.88 billion, a PE ratio of 19.17 and a beta of 2.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. The firm’s fifty day moving average is $30.25 and its two-hundred day moving average is $31.63.

ChampionX (NASDAQ:CHX) last posted its earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The business had revenue of $906.53 million for the quarter, compared to the consensus estimate of $916.50 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The business’s revenue was down 3.5% on a year-over-year basis. Equities research analysts anticipate that ChampionX Co. will post 1.66 EPS for the current year.

ChampionX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.23%. ChampionX’s payout ratio is 23.60%.

Analyst Upgrades and Downgrades

Separately, Citigroup reduced their target price on ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 14th.

Insiders Place Their Bets

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

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.