ChampionX Co. (NASDAQ:CHX) Shares Acquired by TD Asset Management Inc

TD Asset Management Inc increased its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 24.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 91,864 shares of the company’s stock after purchasing an additional 18,250 shares during the quarter. TD Asset Management Inc’s holdings in ChampionX were worth $2,683,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. FMR LLC increased its position in shares of ChampionX by 20.2% in the third quarter. FMR LLC now owns 7,109,432 shares of the company’s stock worth $253,238,000 after acquiring an additional 1,193,122 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in ChampionX by 136.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,022,461 shares of the company’s stock valued at $36,420,000 after purchasing an additional 590,680 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in ChampionX by 28.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,426,407 shares of the company’s stock valued at $86,429,000 after purchasing an additional 538,555 shares during the period. Norges Bank acquired a new position in shares of ChampionX during the fourth quarter worth about $11,182,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of ChampionX by 11.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,433,718 shares of the company’s stock worth $100,305,000 after buying an additional 349,035 shares during the period. Hedge funds and other 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 business’s stock in a transaction that occurred 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 approximately $2,078,928. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.38% of the stock is currently owned by company insiders.

ChampionX Stock Up 1.9 %

CHX stock opened at $31.56 on Friday. The company has a market capitalization of $6.01 billion, a P/E ratio of 17.15, a PEG ratio of 1.23 and a beta of 2.39. The firm has a 50 day simple moving average of $34.76 and a 200-day simple moving average of $31.52. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. ChampionX Co. has a twelve month low of $25.46 and a twelve month high of $39.95.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.10. The company had revenue of $922.14 million during the quarter, compared to analyst estimates of $922.13 million. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. On average, equities research analysts predict that ChampionX Co. will post 1.99 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.20%. The ex-dividend date is Friday, July 5th. ChampionX’s payout ratio is currently 20.65%.

Analyst Ratings Changes

Several equities research analysts recently commented on CHX shares. Piper Sandler raised their target price on ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Barclays boosted 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. Finally, Citigroup raised their price target on shares of ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, ChampionX presently has an average rating of “Moderate Buy” and an average target price of $40.33.

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.