New York State Common Retirement Fund Has $19.52 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

New York State Common Retirement Fund cut its position in ChampionX Co. (NASDAQ:CHX) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 668,395 shares of the company’s stock after selling 44,512 shares during the quarter. New York State Common Retirement Fund owned approximately 0.34% of ChampionX worth $19,524,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CHX. Jennison Associates LLC grew its position in shares of ChampionX by 17.7% in the fourth quarter. Jennison Associates LLC now owns 25,053 shares of the company’s stock valued at $732,000 after purchasing an additional 3,765 shares during the last quarter. Federated Hermes Inc. grew its holdings in ChampionX by 24.2% in the 4th quarter. Federated Hermes Inc. now owns 610,656 shares of the company’s stock valued at $17,837,000 after buying an additional 119,003 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in ChampionX by 1.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,598,635 shares of the company’s stock worth $46,696,000 after buying an additional 24,854 shares during the period. Phocas Financial Corp. lifted its holdings in shares of ChampionX by 1.8% during the fourth quarter. Phocas Financial Corp. now owns 221,155 shares of the company’s stock worth $6,460,000 after buying an additional 3,827 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of ChampionX during the fourth quarter worth approximately $1,598,000. Institutional investors own 98.99% of the company’s stock.

Insiders Place Their Bets

In other news, insider William Jr. O’dell sold 27,178 shares of the firm’s 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 directly owns 57,748 shares in the company, valued at $2,078,928. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.38% of the company’s stock.

ChampionX Stock Performance

NASDAQ CHX opened at $34.86 on Friday. The stock has a market cap of $6.66 billion, a P/E ratio of 18.95, a PEG ratio of 1.11 and a beta of 2.44. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.35. ChampionX Co. has a twelve month low of $24.98 and a twelve month high of $39.95. The company’s 50-day simple moving average is $34.26 and its 200 day simple moving average is $31.16.

ChampionX (NASDAQ:CHX) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.10. The company 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%. As a group, research analysts forecast that ChampionX Co. will post 1.95 earnings per share for the current fiscal year.

ChampionX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 5th were issued a $0.095 dividend. This is a positive change from ChampionX’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, April 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.09%. ChampionX’s dividend payout ratio is presently 20.65%.

Analyst Upgrades and Downgrades

CHX has been the topic of several research analyst reports. Piper Sandler raised their price objective on shares of ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Citigroup boosted their price objective on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Finally, Barclays increased their target price on shares of ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus 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.