Graham Capital Management L.P. Sells 8,039 Shares of ChampionX Co. (NASDAQ:CHX)

Graham Capital Management L.P. trimmed its position in shares of ChampionX Co. (NASDAQ:CHX) by 49.2% during the 4th quarter, Holdings Channel reports. The firm owned 8,315 shares of the company’s stock after selling 8,039 shares during the period. Graham Capital Management L.P.’s holdings in ChampionX were worth $226,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Arizona State Retirement System raised its holdings in ChampionX by 0.8% during the fourth quarter. Arizona State Retirement System now owns 55,268 shares of the company’s stock valued at $1,503,000 after acquiring an additional 436 shares during the period. Pacer Advisors Inc. raised its stake in ChampionX by 1.9% during the 4th quarter. Pacer Advisors Inc. now owns 28,394 shares of the company’s stock valued at $772,000 after purchasing an additional 532 shares during the period. Jones Financial Companies Lllp raised its stake in ChampionX by 153.2% during the 4th quarter. Jones Financial Companies Lllp now owns 924 shares of the company’s stock valued at $25,000 after purchasing an additional 559 shares during the period. Hudson Edge Investment Partners Inc. lifted its holdings in ChampionX by 4.8% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 15,150 shares of the company’s stock worth $412,000 after purchasing an additional 700 shares in the last quarter. Finally, Ethic Inc. boosted its stake in ChampionX by 6.4% in the 4th quarter. Ethic Inc. now owns 13,938 shares of the company’s stock worth $379,000 after purchasing an additional 833 shares during the period. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus lifted 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 Monday, May 5th.

ChampionX Trading Down 0.1%

Shares of ChampionX stock opened at $25.98 on Monday. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 15.75 and a beta of 1.52. ChampionX Co. has a twelve month low of $21.92 and a twelve month high of $35.94. The business has a 50-day moving average price of $26.40 and a 200-day moving average price of $28.19.

ChampionX (NASDAQ:CHX) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. The business had revenue of $864.46 million for the quarter, compared to the consensus estimate of $900.59 million. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. Equities research analysts anticipate that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, July 3rd. ChampionX’s payout ratio is 25.17%.

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.