Pacer Advisors Inc. Decreases Position in ChampionX Co. (NASDAQ:CHX)

Pacer Advisors Inc. decreased its position in shares of ChampionX Co. (NASDAQ:CHX) by 22.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 28,589 shares of the company’s stock after selling 8,116 shares during the period. Pacer Advisors Inc.’s holdings in ChampionX were worth $949,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Legend Financial Advisors Inc. boosted its stake in ChampionX by 1.6% during the 2nd quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company’s stock valued at $713,000 after purchasing an additional 340 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of ChampionX during the first quarter valued at $27,000. Meeder Advisory Services Inc. increased its holdings in ChampionX by 16.4% in the 2nd quarter. Meeder Advisory Services Inc. now owns 6,531 shares of the company’s stock worth $217,000 after buying an additional 918 shares in the last quarter. EntryPoint Capital LLC raised its position in ChampionX by 18.9% in the 1st quarter. EntryPoint Capital LLC now owns 5,817 shares of the company’s stock worth $209,000 after buying an additional 923 shares during the last quarter. Finally, Rise Advisors LLC bought a new position in ChampionX during the 1st quarter valued at about $35,000. Institutional investors own 98.99% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

ChampionX Stock Up 2.4 %

CHX stock opened at $30.30 on Friday. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 1.24 and a beta of 2.37. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.25 and a current ratio of 1.99. The business’s 50-day moving average is $31.14 and its two-hundred day moving average is $32.95. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $954.91 million. During the same quarter last year, the company earned $0.48 EPS. ChampionX’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, analysts forecast that ChampionX Co. will post 1.99 earnings per share for the current year.

ChampionX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a $0.095 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.25%. ChampionX’s dividend payout ratio (DPR) is 20.65%.

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.