ChampionX Co. (NASDAQ:CHX) Stock Holdings Lowered by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its holdings in ChampionX Co. (NASDAQ:CHX) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,316 shares of the company’s stock after selling 400 shares during the quarter. Nisa Investment Advisors LLC’s holdings in ChampionX were worth $564,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of ChampionX by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 74,057 shares of the company’s stock worth $1,813,000 after acquiring an additional 7,061 shares in the last quarter. BlackRock Inc. increased its position in shares of ChampionX by 0.5% in the first quarter. BlackRock Inc. now owns 24,501,257 shares of the company’s stock worth $599,791,000 after acquiring an additional 126,529 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of ChampionX by 8.1% in the first quarter. Great West Life Assurance Co. Can now owns 110,119 shares of the company’s stock worth $2,768,000 after acquiring an additional 8,223 shares in the last quarter. Yousif Capital Management LLC increased its position in shares of ChampionX by 2.3% in the first quarter. Yousif Capital Management LLC now owns 109,208 shares of the company’s stock worth $2,673,000 after acquiring an additional 2,439 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of ChampionX by 17.8% in the first quarter. Sei Investments Co. now owns 694,766 shares of the company’s stock worth $17,014,000 after acquiring an additional 104,849 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors.

ChampionX Stock Performance

CHX stock opened at $36.07 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 1.17 and a beta of 2.44. ChampionX Co. has a 12 month low of $24.98 and a 12 month high of $39.95. The firm has a 50 day moving average of $33.41 and a two-hundred day moving average of $31.10.

ChampionX (NASDAQ:CHX) last posted its earnings results on Tuesday, February 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $943.56 million during the quarter, compared to the consensus estimate of $947.33 million. ChampionX had a net margin of 8.36% and a return on equity of 20.14%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 earnings per share. As a group, equities analysts anticipate that ChampionX Co. will post 1.95 EPS for the current fiscal year.

ChampionX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.05%. This is an increase from ChampionX’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, April 4th. ChampionX’s payout ratio is currently 24.20%.

Insiders Place Their Bets

In other ChampionX news, insider William Jr. O’dell sold 27,178 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $36.00, for a total value of $978,408.00. Following the completion of the sale, the insider now directly owns 57,748 shares of the company’s stock, valued at $2,078,928. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.38% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on CHX shares. Barclays lifted their target price on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Piper Sandler boosted their price objective on shares of ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Citigroup boosted their price objective on shares of ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, ChampionX has an average rating of “Moderate Buy” and an average target price of $40.33.

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.