Retirement Systems of Alabama Has $7.13 Million Position in ChampionX Co. (NASDAQ:CHX)

Retirement Systems of Alabama lessened its holdings in ChampionX Co. (NASDAQ:CHX) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 243,976 shares of the company’s stock after selling 1,479 shares during the period. Retirement Systems of Alabama owned approximately 0.13% of ChampionX worth $7,127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in shares of ChampionX in the 4th quarter worth approximately $26,000. Parkside Financial Bank & Trust lifted its holdings in shares of ChampionX by 19.4% during the third quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock valued at $77,000 after acquiring an additional 352 shares during the period. Mendota Financial Group LLC acquired a new stake in shares of ChampionX in the 4th quarter valued at $114,000. SG Americas Securities LLC grew its holdings in shares of ChampionX by 16.9% in the 3rd quarter. SG Americas Securities LLC now owns 4,479 shares of the company’s stock worth $160,000 after purchasing an additional 649 shares during the last quarter. Finally, Prudent Man Advisors LLC acquired a new stake in shares of ChampionX during the 3rd quarter worth about $201,000. Institutional investors own 98.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Citigroup boosted their price target on shares of ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Piper Sandler increased their price target on ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Barclays lifted their price objective on ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, ChampionX currently has an average rating of “Moderate Buy” and a consensus target price of $40.33.

Insider Activity

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

ChampionX Stock Performance

CHX stock opened at $33.60 on Friday. The company has a 50 day moving average price of $34.59 and a 200 day moving average price of $31.18. ChampionX Co. has a fifty-two week low of $24.98 and a fifty-two week high of $39.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.83 and a quick ratio of 1.16. The stock has a market capitalization of $6.40 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 1.06 and a beta of 2.45.

ChampionX (NASDAQ:CHX) last released 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 company had revenue of $922.14 million during the quarter, compared to the consensus estimate of $922.13 million. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. Analysts forecast that ChampionX Co. will post 1.95 EPS for the current year.

ChampionX Increases Dividend

The firm 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 an increase from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 dividend on an annualized basis and a yield of 1.13%. ChampionX’s dividend 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.