ChampionX Co. (NASDAQ:CHX) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in ChampionX Co. (NASDAQ:CHX) by 32.4% during the second quarter, HoldingsChannel.com reports. The fund owned 77,272 shares of the company’s stock after selling 36,995 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in ChampionX were worth $2,566,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CHX. Legend Financial Advisors Inc. lifted its stake in ChampionX by 1.6% in the 2nd quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company’s stock valued at $713,000 after buying an additional 340 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in ChampionX in the 1st quarter valued at approximately $27,000. Mendota Financial Group LLC lifted its stake in ChampionX by 19.3% in the 1st quarter. Mendota Financial Group LLC now owns 4,648 shares of the company’s stock valued at $167,000 after buying an additional 751 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in 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 buying an additional 831 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its stake in ChampionX by 18.9% in the 1st quarter. EntryPoint Capital LLC now owns 5,817 shares of the company’s stock valued at $209,000 after buying an additional 923 shares in the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Trading Down 0.2 %

Shares of ChampionX stock opened at $29.83 on Thursday. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95. The firm has a market cap of $5.68 billion, a PE ratio of 16.21, a P/E/G ratio of 1.13 and a beta of 2.37. The business’s fifty day moving average is $31.67 and its two-hundred day moving average is $33.03. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.34.

ChampionX (NASDAQ:CHX) last issued 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). The firm had revenue of $893.30 million during the quarter, compared to analysts’ expectations of $954.91 million. ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share. Analysts anticipate that ChampionX Co. will post 1.99 earnings per share for the current year.

ChampionX Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their price target on ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.00.

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.