Natixis Advisors L.P. Sells 73,041 Shares of ChampionX Co. (NASDAQ:CHX)

Natixis Advisors L.P. trimmed its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 17.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 337,356 shares of the company’s stock after selling 73,041 shares during the quarter. Natixis Advisors L.P. owned 0.17% of ChampionX worth $9,853,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Benjamin Edwards Inc. grew its position in shares of ChampionX by 14.6% during the 4th quarter. Benjamin Edwards Inc. now owns 7,298 shares of the company’s stock valued at $213,000 after acquiring an additional 927 shares during the period. Fisher Asset Management LLC increased its position in ChampionX by 7.2% in the fourth quarter. Fisher Asset Management LLC now owns 365,690 shares of the company’s stock worth $10,682,000 after buying an additional 24,554 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of ChampionX in the fourth quarter valued at $26,000. Jennison Associates LLC lifted its position in shares of ChampionX by 17.7% during the 4th quarter. Jennison Associates LLC now owns 25,053 shares of the company’s stock valued at $732,000 after buying an additional 3,765 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of ChampionX by 24.2% during the 4th quarter. Federated Hermes Inc. now owns 610,656 shares of the company’s stock worth $17,837,000 after acquiring an additional 119,003 shares during the period. 98.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CHX. Barclays increased their target price on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Piper Sandler lifted their price objective on shares of ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Citigroup increased their target price on ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.33.

Insiders Place Their Bets

In other news, insider William Jr. O’dell sold 27,178 shares of ChampionX stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $36.00, for a total transaction of $978,408.00. Following the completion of the sale, the insider now directly owns 57,748 shares of the company’s stock, valued at approximately $2,078,928. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.38% of the company’s stock.

ChampionX Stock Down 0.4 %

CHX opened at $33.88 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.83 and a quick ratio of 1.16. ChampionX Co. has a one year low of $24.98 and a one year high of $39.95. The firm has a market capitalization of $6.45 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 1.06 and a beta of 2.45. The company has a fifty day moving average price of $34.69 and a 200-day moving average price of $31.13.

ChampionX (NASDAQ:CHX) last announced its earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The business had revenue of $922.14 million for the quarter, compared to analyst estimates of $922.13 million. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. Equities research analysts expect that ChampionX Co. will post 1.95 earnings per share for the current fiscal 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 given a dividend of $0.095 per share. The ex-dividend date of this dividend was Thursday, April 4th. This is a positive change from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 annualized dividend and a yield of 1.12%. ChampionX’s payout ratio is presently 20.65%.

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.