GAMMA Investing LLC Takes Position in ChampionX Co. (NASDAQ:CHX)

GAMMA Investing LLC acquired a new stake in ChampionX Co. (NASDAQ:CHX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 935 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds also recently made changes to their positions in CHX. Parkside Financial Bank & Trust increased its stake in shares of ChampionX by 19.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock valued at $77,000 after purchasing an additional 352 shares during the last quarter. Mendota Financial Group LLC bought a new position in shares of ChampionX in the 4th quarter valued at $114,000. SG Americas Securities LLC increased its stake in shares of ChampionX by 16.9% in the 3rd quarter. SG Americas Securities LLC now owns 4,479 shares of the company’s stock valued at $160,000 after purchasing an additional 649 shares during the last quarter. Prudent Man Advisors LLC bought a new position in shares of ChampionX in the 3rd quarter valued at $201,000. Finally, Forum Financial Management LP bought a new position in shares of ChampionX in the 3rd quarter valued at $206,000. 98.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

ChampionX Stock Up 0.5 %

Shares of CHX opened at $33.76 on Tuesday. The company has a market capitalization of $6.43 billion, a PE ratio of 18.35, a PEG ratio of 1.06 and a beta of 2.45. ChampionX Co. has a 12 month low of $24.98 and a 12 month high of $39.95. The stock’s 50-day moving average price is $34.59 and its two-hundred day moving average price is $31.13. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35.

ChampionX (NASDAQ:CHX) last announced its earnings results on Wednesday, April 24th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.40 by $0.10. The firm had revenue of $922.14 million for the quarter, compared to the consensus estimate of $922.13 million. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. On average, analysts anticipate that ChampionX Co. will post 1.95 EPS for the current year.

ChampionX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 5th were issued a dividend of $0.095 per share. The ex-dividend date of this dividend was Thursday, April 4th. This is an increase from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 annualized dividend and a yield of 1.13%. ChampionX’s payout ratio is presently 20.65%.

Insiders Place Their Bets

In other ChampionX news, insider William Jr. O’dell sold 27,178 shares of ChampionX stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $36.00, for a total transaction of $978,408.00. Following the transaction, the insider now directly owns 57,748 shares of the company’s stock, valued at approximately $2,078,928. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.38% of the company’s stock.

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.