Fisher Asset Management LLC Has $10.69 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Fisher Asset Management LLC increased its position in shares of ChampionX Co. (NASDAQ:CHX) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 365,798 shares of the company’s stock after purchasing an additional 24,662 shares during the quarter. Fisher Asset Management LLC’s holdings in ChampionX were worth $10,685,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP acquired a new stake in ChampionX in the 4th quarter valued at about $6,881,000. Aurora Investment Counsel acquired a new stake in ChampionX in the 4th quarter valued at about $1,451,000. Penn Capital Management Company LLC increased its position in ChampionX by 8.1% in the 4th quarter. Penn Capital Management Company LLC now owns 306,604 shares of the company’s stock valued at $8,969,000 after acquiring an additional 23,085 shares in the last quarter. Goehring & Rozencwajg Associates LLC increased its position in ChampionX by 3.9% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 262,067 shares of the company’s stock valued at $7,655,000 after acquiring an additional 9,800 shares in the last quarter. Finally, Hawk Ridge Capital Management LP acquired a new stake in ChampionX in the 4th quarter valued at about $67,592,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Stock Up 1.9 %

Shares of NASDAQ CHX opened at $31.16 on Thursday. The firm’s 50-day moving average is $33.66 and its 200-day moving average is $31.65. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. The firm has a market capitalization of $5.93 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 1.27 and a beta of 2.39. 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 (NASDAQ:CHX) last released 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. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. The business had revenue of $922.14 million for the quarter, compared to analyst estimates of $922.13 million. Equities analysts expect that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors 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 1.22%. The ex-dividend date of this dividend is Friday, July 5th. ChampionX’s payout ratio is 20.65%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, insider William Jr. O’dell sold 27,178 shares of ChampionX stock in a transaction that occurred 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 transaction, the insider now 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 can be accessed through this hyperlink. 1.38% of the stock is owned by insiders.

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.