HighPoint Advisor Group LLC Buys Shares of 9,479 ChampionX Co. (NASDAQ:CHX)

HighPoint Advisor Group LLC purchased a new position in shares of ChampionX Co. (NASDAQ:CHX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,479 shares of the company’s stock, valued at approximately $277,000.

A number of other large investors have also made changes to their positions in CHX. GAMMA Investing LLC purchased a new position in ChampionX during the 4th quarter worth $26,000. Parkside Financial Bank & Trust increased 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 in the last quarter. Quadrant Capital Group LLC raised its position in shares of ChampionX by 37.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company’s stock valued at $89,000 after purchasing an additional 831 shares during the last quarter. Principal Securities Inc. acquired a new stake in ChampionX in the 4th quarter worth approximately $91,000. Finally, Mendota Financial Group LLC purchased a new stake in ChampionX during the 4th quarter worth approximately $114,000. 98.99% of the stock is owned by institutional investors and hedge funds.

ChampionX Stock Up 0.2 %

Shares of CHX stock opened at $32.01 on Friday. ChampionX Co. has a twelve month low of $25.46 and a twelve month high of $39.95. The stock has a market cap of $6.09 billion, a P/E ratio of 17.40, a P/E/G ratio of 1.29 and a beta of 2.39. The stock has a 50 day moving average of $33.38 and a 200 day moving average of $31.65. 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 posted its earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $922.14 million during the quarter, compared to analysts’ expectations of $922.13 million. As a group, sell-side analysts expect that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.19%. The ex-dividend date is Friday, July 5th. ChampionX’s payout ratio is currently 20.65%.

Insider Activity

In related news, insider William Jr. O’dell sold 27,178 shares of ChampionX stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $36.00, for a total value of $978,408.00. Following the sale, the insider now owns 57,748 shares of the company’s stock, valued at approximately $2,078,928. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CHX shares. Citigroup upped their target price on 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 objective on ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Barclays lifted their target price on ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $40.33.

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.