Pathstone Holdings LLC Has $2.15 Million Holdings in ChampionX Co. (NASDAQ:CHX)

Pathstone Holdings LLC lowered its stake in ChampionX Co. (NASDAQ:CHX) by 17.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,264 shares of the company’s stock after selling 15,476 shares during the period. Pathstone Holdings LLC’s holdings in ChampionX were worth $2,149,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CHX. Point72 DIFC Ltd acquired a new position in shares of ChampionX during the 2nd quarter worth about $623,000. Quest Partners LLC lifted its position in shares of ChampionX by 86.8% during the 3rd quarter. Quest Partners LLC now owns 69,102 shares of the company’s stock worth $2,083,000 after purchasing an additional 32,103 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of ChampionX during the 2nd quarter worth about $20,677,000. New York State Teachers Retirement System lifted its position in shares of ChampionX by 8.1% during the 2nd quarter. New York State Teachers Retirement System now owns 231,551 shares of the company’s stock worth $7,690,000 after purchasing an additional 17,259 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new position in shares of ChampionX during the 2nd quarter worth about $1,475,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

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

ChampionX Trading Down 1.2 %

ChampionX stock opened at $30.54 on Wednesday. The business has a 50 day moving average price of $30.50 and a two-hundred day moving average price of $31.53. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.33. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 18.97 and a beta of 2.38. ChampionX Co. has a 12 month low of $25.46 and a 12 month high of $39.95.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $906.53 million during 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% on a year-over-year basis. During the same period last year, the company earned $0.41 EPS. As a group, equities analysts forecast that ChampionX Co. will post 1.66 EPS for the current year.

ChampionX Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.38 annualized dividend and a dividend yield of 1.24%. ChampionX’s dividend payout ratio is currently 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.