Caxton Associates LP Invests $664,000 in ChampionX Co. (NASDAQ:CHX)

Caxton Associates LP bought a new position in ChampionX Co. (NASDAQ:CHX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $664,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new position in ChampionX in the 4th quarter worth about $11,182,000. Wells Fargo & Company MN lifted its stake in ChampionX by 0.8% during the 4th quarter. Wells Fargo & Company MN now owns 426,537 shares of the company’s stock valued at $12,459,000 after acquiring an additional 3,240 shares during the period. Advisory Services Network LLC lifted its stake in ChampionX by 12.4% during the 4th quarter. Advisory Services Network LLC now owns 10,885 shares of the company’s stock valued at $318,000 after acquiring an additional 1,201 shares during the period. United Services Automobile Association lifted its stake in ChampionX by 14.5% during the 4th quarter. United Services Automobile Association now owns 15,934 shares of the company’s stock valued at $465,000 after acquiring an additional 2,021 shares during the period. Finally, TD Asset Management Inc lifted its stake in ChampionX by 24.8% during the 4th quarter. TD Asset Management Inc now owns 91,864 shares of the company’s stock valued at $2,683,000 after acquiring an additional 18,250 shares during the period. 98.99% of the stock is owned by hedge funds and other institutional investors.

ChampionX Trading Down 1.6 %

ChampionX stock opened at $29.60 on Friday. The firm has a 50 day moving average of $31.24 and a 200 day moving average of $32.95. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 1.24 and a beta of 2.37. ChampionX Co. has a 12-month low of $25.46 and a 12-month high of $39.95. The company has a current ratio of 1.99, a quick ratio of 1.25 and a debt-to-equity ratio of 0.34.

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

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, October 4th. ChampionX’s dividend payout ratio (DPR) is presently 20.65%.

Analyst Upgrades and Downgrades

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

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.