Louisiana State Employees Retirement System Purchases New Shares in ChampionX Co. (NASDAQ:CHX)

Louisiana State Employees Retirement System purchased a new stake in shares of ChampionX Co. (NASDAQ:CHX) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 54,700 shares of the company’s stock, valued at approximately $1,598,000.

Several other hedge funds also recently made changes to their positions in the company. Cerity Partners LLC boosted its position in shares of ChampionX by 5.6% during the fourth quarter. Cerity Partners LLC now owns 114,879 shares of the company’s stock valued at $3,356,000 after purchasing an additional 6,119 shares in the last quarter. Iridian Asset Management LLC CT raised its stake in ChampionX by 6.1% during the fourth quarter. Iridian Asset Management LLC CT now owns 139,593 shares of the company’s stock valued at $4,078,000 after buying an additional 8,004 shares during the last quarter. Ceredex Value Advisors LLC raised its stake in ChampionX by 9.2% during the fourth quarter. Ceredex Value Advisors LLC now owns 485,072 shares of the company’s stock valued at $14,169,000 after buying an additional 41,022 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in ChampionX by 2.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 90,338 shares of the company’s stock valued at $2,639,000 after buying an additional 1,909 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in ChampionX by 2.1% during the fourth quarter. New York State Teachers Retirement System now owns 214,675 shares of the company’s stock valued at $6,271,000 after buying an additional 4,413 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider William Jr. O’dell sold 27,178 shares of ChampionX stock in a transaction on Thursday, March 28th. The stock was 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 owns 57,748 shares of the company’s stock, valued at $2,078,928. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.38% of the stock is currently owned by corporate insiders.

ChampionX Stock Down 2.1 %

CHX stock opened at $35.53 on Friday. ChampionX Co. has a 1-year low of $24.98 and a 1-year high of $39.95. The business has a fifty day moving average price of $33.69 and a 200-day moving average price of $31.14. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.82 and a quick ratio of 1.15. The stock has a market capitalization of $6.79 billion, a P/E ratio of 22.63, a P/E/G ratio of 1.14 and a beta of 2.44.

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

ChampionX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be issued a $0.095 dividend. The ex-dividend date is Thursday, April 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.07%. This is a positive change from ChampionX’s previous quarterly dividend of $0.09. ChampionX’s payout ratio is presently 24.20%.

Analyst Ratings Changes

A number of brokerages have issued reports on CHX. Barclays lifted their price objective on ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Citigroup lifted their price objective on ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Finally, Piper Sandler boosted their price target on ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.