Benjamin Edwards Inc. Acquires 2,105 Shares of ChampionX Co. (NASDAQ:CHX)

Benjamin Edwards Inc. raised its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 19.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,870 shares of the company’s stock after purchasing an additional 2,105 shares during the period. Benjamin Edwards Inc.’s holdings in ChampionX were worth $427,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in ChampionX by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 20,033,091 shares of the company’s stock valued at $585,167,000 after buying an additional 62,967 shares during the last quarter. Congress Asset Management Co. MA increased its position in ChampionX by 2.1% during the first quarter. Congress Asset Management Co. MA now owns 3,991,117 shares of the company’s stock valued at $143,241,000 after acquiring an additional 80,626 shares during the last quarter. Bessemer Group Inc. increased its position in ChampionX by 2.6% during the first quarter. Bessemer Group Inc. now owns 3,842,425 shares of the company’s stock valued at $137,905,000 after acquiring an additional 99,100 shares during the last quarter. Hawk Ridge Capital Management LP bought a new position in ChampionX in the fourth quarter valued at about $67,592,000. Finally, Fiera Capital Corp boosted its position in ChampionX by 1.2% in the second quarter. Fiera Capital Corp now owns 1,299,611 shares of the company’s stock worth $43,160,000 after purchasing an additional 15,326 shares during the last quarter. Institutional investors own 98.99% of the company’s stock.

ChampionX Trading Down 0.7 %

Shares of CHX opened at $30.54 on Friday. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. The company has a 50 day simple moving average of $31.60 and a two-hundred day simple moving average of $32.99. 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 has a market cap of $5.82 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 1.13 and a beta of 2.37.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.11). The company 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 firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS. On average, equities analysts expect that ChampionX Co. will post 1.99 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Friday, October 4th. ChampionX’s payout ratio is 20.65%.

Wall Street Analyst Weigh In

Separately, Piper Sandler reduced their price objective on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently 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.