D. E. Shaw & Co. Inc. Cuts Stock Holdings in ChampionX Co. (NASDAQ:CHX)

D. E. Shaw & Co. Inc. reduced its stake in shares of ChampionX Co. (NASDAQ:CHX) by 34.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,761,302 shares of the company’s stock after selling 1,479,687 shares during the quarter. D. E. Shaw & Co. Inc. owned 1.37% of ChampionX worth $60,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of CHX. Fred Alger Management LLC acquired a new position in ChampionX during the first quarter worth about $94,318,000. Iridian Asset Management LLC CT acquired a new position in ChampionX during the first quarter worth about $72,796,000. Norges Bank acquired a new stake in shares of ChampionX in the fourth quarter valued at approximately $39,542,000. Brown Advisory Inc. grew its position in shares of ChampionX by 181.2% in the first quarter. Brown Advisory Inc. now owns 3,010,475 shares of the company’s stock valued at $65,418,000 after purchasing an additional 1,939,958 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of ChampionX by 7.1% in the first quarter. BlackRock Inc. now owns 23,541,633 shares of the company’s stock valued at $511,562,000 after purchasing an additional 1,563,737 shares during the last quarter. Institutional investors own 95.67% of the company’s stock.

In related news, CAO Antoine Marcos sold 30,000 shares of ChampionX stock in a transaction dated Wednesday, June 9th. The shares were sold at an average price of $26.94, for a total value of $808,200.00. Following the sale, the chief accounting officer now directly owns 77,238 shares in the company, valued at approximately $2,080,791.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Julia Wright sold 8,125 shares of ChampionX stock in a transaction dated Friday, May 7th. The shares were sold at an average price of $24.58, for a total transaction of $199,712.50. Following the completion of the sale, the vice president now owns 54,347 shares in the company, valued at $1,335,849.26. The disclosure for this sale can be found here. Insiders sold a total of 50,155 shares of company stock valued at $1,288,693 over the last ninety days. Company insiders own 0.83% of the company’s stock.

CHX has been the topic of several research reports. TheStreet upgraded shares of ChampionX from a “d+” rating to a “c-” rating in a research report on Tuesday, June 1st. Zacks Investment Research lowered shares of ChampionX from a “buy” rating to a “hold” rating in a research report on Tuesday. Evercore ISI restated a “buy” rating and set a $25.00 target price on shares of ChampionX in a research report on Thursday, July 8th. Finally, Stifel Nicolaus raised their target price on shares of ChampionX from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, July 2nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. ChampionX currently has an average rating of “Buy” and a consensus price target of $22.63.

Shares of CHX stock opened at $22.63 on Thursday. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of -24.60 and a beta of 3.32. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 2.06. ChampionX Co. has a 1-year low of $6.87 and a 1-year high of $30.48. The business’s fifty day moving average is $25.79.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data on Wednesday, April 28th. The company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The company had revenue of $684.89 million during the quarter, compared to analyst estimates of $667.73 million. ChampionX had a negative net margin of 4.49% and a negative return on equity of 0.86%. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the business earned $0.03 EPS. Equities research analysts predict that ChampionX Co. will post 0.49 earnings per share for the current fiscal year.

ChampionX Company Profile

ChampionX Corporation provides chemistry solutions, and engineered equipment and technologies to oil and gas companies worldwide. The company's Production Chemical Technologies segment offers onshore and offshore chemical solutions, such as corrosion inhibitors, scale inhibitors, emulsion breakers, and biocides to oil and natural gas production and midstream markets to manage and control corrosion, oil and water separation, flow assurance, sour gas treatment, and water-related issues.

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Institutional Ownership by Quarter for ChampionX (NASDAQ:CHX)

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