Aurora Investment Counsel Sells 853 Shares of ChampionX Co. (NASDAQ:CHX)

Aurora Investment Counsel lowered its position in shares of ChampionX Co. (NASDAQ:CHX) by 1.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 56,794 shares of the company’s stock after selling 853 shares during the period. Aurora Investment Counsel’s holdings in ChampionX were worth $1,886,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHX. Water Island Capital LLC purchased a new position in shares of ChampionX in the 2nd quarter worth about $35,384,000. Creative Planning grew its position in ChampionX by 5.2% in the 2nd quarter. Creative Planning now owns 143,482 shares of the company’s stock worth $4,765,000 after purchasing an additional 7,069 shares during the period. Algert Global LLC raised its stake in ChampionX by 272.3% during the 2nd quarter. Algert Global LLC now owns 179,395 shares of the company’s stock valued at $5,958,000 after buying an additional 131,206 shares during the last quarter. Millennium Management LLC boosted its stake in shares of ChampionX by 12,607.0% in the 2nd quarter. Millennium Management LLC now owns 3,120,847 shares of the company’s stock worth $103,643,000 after buying an additional 3,096,287 shares during the last quarter. Finally, Caxton Associates LP bought a new stake in shares of ChampionX in the second quarter worth $664,000. 98.99% of the stock is owned by hedge funds and other institutional investors.

ChampionX Trading Down 0.5 %

CHX stock opened at $30.15 on Tuesday. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 1.24 and a beta of 2.37. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.99 and a quick ratio of 1.25. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95. The business has a 50 day simple moving average of $31.05 and a two-hundred day simple moving average of $32.94.

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). ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The company had revenue of $893.30 million during the quarter, compared to analysts’ expectations of $954.91 million. During the same quarter in the previous year, the firm earned $0.48 EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. Research analysts anticipate that ChampionX Co. will post 1.99 EPS for the current fiscal year.

ChampionX Announces Dividend

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

Wall Street Analyst Weigh In

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