ChampionX Co. (NASDAQ:CHX) Shares Sold by Xponance Inc.

Xponance Inc. reduced its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,695 shares of the company’s stock after selling 2,018 shares during the period. Xponance Inc.’s holdings in ChampionX were worth $853,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Hawk Ridge Capital Management LP acquired a new stake in shares of ChampionX in the fourth quarter valued at $67,592,000. Magnetar Financial LLC purchased a new stake in ChampionX during the 2nd quarter worth about $72,860,000. Renaissance Technologies LLC acquired a new stake in ChampionX in the 2nd quarter valued at about $20,677,000. Picton Mahoney Asset Management purchased a new position in shares of ChampionX in the 2nd quarter valued at about $19,442,000. Finally, Scout Investments Inc. acquired a new position in shares of ChampionX during the first quarter worth about $18,957,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

ChampionX Trading Up 2.4 %

NASDAQ:CHX opened at $30.30 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.25 and a current ratio of 1.99. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. The stock has a market cap of $5.77 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.24 and a beta of 2.37. The stock has a 50-day simple moving average of $31.14 and a 200-day simple moving average of $32.95.

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 net margin of 8.66% and a return on equity of 19.72%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 earnings per share. As a group, analysts anticipate that ChampionX Co. will post 1.99 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.25%. ChampionX’s dividend payout ratio (DPR) is presently 20.65%.

Analyst Ratings Changes

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