Aristides Capital LLC Buys Shares of 7,622 ChampionX Co. (NASDAQ:CHX)

Aristides Capital LLC purchased a new stake in ChampionX Co. (NASDAQ:CHX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,622 shares of the company’s stock, valued at approximately $253,000.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of ChampionX in the 1st quarter worth approximately $27,000. Rise Advisors LLC acquired a new position in shares of ChampionX during the 1st quarter valued at $35,000. DekaBank Deutsche Girozentrale bought a new stake in shares of ChampionX in the 2nd quarter worth $68,000. YHB Investment Advisors Inc. acquired a new stake in shares of ChampionX in the first quarter valued at $134,000. Finally, Central Pacific Bank Trust Division bought a new position in ChampionX during the first quarter valued at about $136,000. Institutional investors own 98.99% of the company’s stock.

ChampionX Price Performance

CHX opened at $30.15 on Tuesday. ChampionX Co. has a 12-month low of $25.46 and a 12-month high of $39.95. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $5.74 billion, a P/E ratio of 16.39, a PEG ratio of 1.24 and a beta of 2.37. The stock has a fifty day moving average of $31.05 and a 200-day moving average of $32.94.

ChampionX (NASDAQ:CHX) last released 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 business had revenue of $893.30 million for 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 company’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. Equities analysts forecast that ChampionX Co. will post 1.99 EPS for the current fiscal year.

ChampionX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Friday, October 4th. ChampionX’s dividend payout ratio (DPR) is currently 20.65%.

Wall Street Analyst Weigh In

Separately, Piper Sandler reduced their price objective on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.