Creative Planning Has $4.77 Million Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Creative Planning boosted its stake in ChampionX Co. (NASDAQ:CHX) by 5.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 143,482 shares of the company’s stock after acquiring an additional 7,069 shares during the quarter. Creative Planning’s holdings in ChampionX were worth $4,765,000 at the end of the most recent reporting period.

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

ChampionX Trading Up 1.6 %

NASDAQ CHX opened at $32.05 on Friday. The firm has a market capitalization of $6.10 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 1.24 and a beta of 2.37. The business’s 50-day moving average price is $30.92 and its two-hundred day moving average price is $32.91. 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 Co. has a 12 month low of $25.46 and a 12 month high of $39.95.

ChampionX (NASDAQ:CHX) last announced its 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 net margin of 8.66% and a return on equity of 19.72%. The company had revenue of $893.30 million during the quarter, compared to the consensus estimate of $954.91 million. During the same quarter in the previous year, the company earned $0.48 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. On average, analysts expect that ChampionX Co. will post 1.99 EPS for the current year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors 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 yield of 1.19%. The ex-dividend date is Friday, October 4th. ChampionX’s dividend payout ratio is presently 20.65%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their price objective on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.