Olympiad Research LP Buys 38,981 Shares of ChampionX Co. (NASDAQ:CHX)

Olympiad Research LP lifted its stake in shares of ChampionX Co. (NASDAQ:CHX) by 67.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 96,868 shares of the company’s stock after buying an additional 38,981 shares during the period. ChampionX accounts for approximately 2.7% of Olympiad Research LP’s holdings, making the stock its 2nd largest position. Olympiad Research LP’s holdings in ChampionX were worth $2,634,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in ChampionX by 442.4% in the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock valued at $44,000 after buying an additional 1,084 shares during the period. Venturi Wealth Management LLC lifted its holdings in ChampionX by 1,051.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock valued at $51,000 after buying an additional 1,725 shares during the period. R Squared Ltd acquired a new position in ChampionX in the fourth quarter valued at approximately $103,000. KBC Group NV lifted its holdings in ChampionX by 18.3% in the third quarter. KBC Group NV now owns 5,827 shares of the company’s stock valued at $176,000 after buying an additional 903 shares during the period. Finally, Ieq Capital LLC acquired a new position in ChampionX in the fourth quarter valued at approximately $228,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

ChampionX Stock Performance

NASDAQ CHX opened at $29.69 on Friday. The firm has a 50-day moving average of $28.52 and a 200-day moving average of $29.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99. The stock has a market cap of $5.66 billion, a PE ratio of 17.99 and a beta of 2.35. ChampionX Co. has a 52-week low of $25.57 and a 52-week high of $39.95.

ChampionX (NASDAQ:CHX) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. On average, sell-side analysts anticipate that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX’s dividend payout ratio (DPR) is presently 23.03%.

Analyst Upgrades and Downgrades

Separately, Citigroup cut their price objective on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 14th.

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.