ChampionX (NASDAQ:CHX) Reaches New 52-Week Low – Here’s What Happened

ChampionX Co. (NASDAQ:CHX) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $25.50 and last traded at $25.42, with a volume of 355887 shares changing hands. The stock had previously closed at $27.55.

ChampionX Stock Down 11.9 %

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’s 50-day moving average price is $29.24 and its 200 day moving average price is $29.46. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 14.76 and a beta of 1.81.

ChampionX (NASDAQ:CHX) last announced its earnings results on Tuesday, February 4th. The company reported $0.50 EPS 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%. Sell-side analysts expect that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX’s dividend payout ratio is presently 23.03%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHX. Jones Financial Companies Lllp boosted its position in ChampionX by 153.2% during the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company’s stock worth $25,000 after acquiring an additional 559 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of ChampionX by 1,051.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock worth $51,000 after purchasing an additional 1,725 shares during the period. R Squared Ltd acquired a new stake in shares of ChampionX during the fourth quarter worth $103,000. Vestcor Inc grew its position in shares of ChampionX by 71.6% in the fourth quarter. Vestcor Inc now owns 5,032 shares of the company’s stock valued at $137,000 after purchasing an additional 2,100 shares during the period. Finally, Brown Brothers Harriman & Co. increased its stake in ChampionX by 82,557.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company’s stock valued at $157,000 after purchasing an additional 5,779 shares during the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

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.