ChampionX Co. (NASDAQ:CHX) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its stake in shares of ChampionX Co. (NASDAQ:CHX) by 53.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 45,093 shares of the company’s stock after selling 51,293 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in ChampionX were worth $1,498,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Private Advisor Group LLC raised its position in ChampionX by 20.7% in the fourth quarter. Private Advisor Group LLC now owns 12,410 shares of the company’s stock valued at $363,000 after purchasing an additional 2,132 shares during the period. Principal Securities Inc. purchased a new stake in ChampionX in the 4th quarter valued at about $91,000. Jump Financial LLC acquired a new position in ChampionX in the fourth quarter valued at about $213,000. Dimensional Fund Advisors LP boosted its stake in ChampionX by 11.3% during 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. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of ChampionX by 82.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 16,356 shares of the company’s stock valued at $478,000 after acquiring an additional 7,401 shares during the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

ChampionX Stock Down 0.2 %

Shares of NASDAQ:CHX opened at $29.83 on Thursday. The firm has a market capitalization of $5.68 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 1.13 and a beta of 2.37. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.99 and a quick ratio of 1.25. The firm’s 50-day moving average is $31.67 and its two-hundred day moving average is $33.03.

ChampionX (NASDAQ:CHX) last announced its earnings results on Wednesday, July 24th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.11). ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The business had revenue of $893.30 million for the quarter, compared to analysts’ expectations of $954.91 million. During the same period in the previous year, the company earned $0.48 earnings per share. ChampionX’s quarterly revenue was down 3.6% on a year-over-year basis. Analysts predict that ChampionX Co. will post 1.99 EPS for the current year.

ChampionX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a $0.095 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.27%. ChampionX’s dividend payout ratio (DPR) is presently 20.65%.

Analysts Set New Price Targets

Separately, Piper Sandler decreased their price objective on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

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.