Bailard Inc. Makes New Investment in ChampionX Co. (NASDAQ:CHX)

Bailard Inc. acquired a new position in shares of ChampionX Co. (NASDAQ:CHX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 25,210 shares of the company’s stock, valued at approximately $685,000.

Other hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC grew its position in shares of ChampionX by 1,051.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock worth $51,000 after acquiring an additional 1,725 shares during the last quarter. R Squared Ltd purchased a new position in shares of ChampionX during the fourth quarter worth approximately $103,000. KBC Group NV grew its holdings in shares of ChampionX by 18.3% during the third quarter. KBC Group NV now owns 5,827 shares of the company’s stock worth $176,000 after buying an additional 903 shares during the last quarter. Ieq Capital LLC purchased a new position in shares of ChampionX during the fourth quarter worth about $228,000. Finally, Quantinno Capital Management LP purchased a new position in shares of ChampionX during the third quarter worth about $265,000. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

ChampionX Stock Performance

NASDAQ:CHX opened at $28.44 on Tuesday. The firm’s fifty day moving average price is $28.81 and its 200 day moving average price is $29.65. ChampionX Co. has a 1-year low of $25.57 and a 1-year high of $39.95. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 17.24 and a beta of 2.35.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. On average, sell-side analysts expect that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The firm also recently disclosed 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. This represents a $0.38 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX’s dividend payout ratio is presently 23.03%.

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.