Louisiana State Employees Retirement System Has $1.59 Million Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Louisiana State Employees Retirement System cut its holdings in ChampionX Co. (NASDAQ:CHX) by 2.0% in the third quarter, Holdings Channel.com reports. The fund owned 52,800 shares of the company’s stock after selling 1,100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in ChampionX were worth $1,592,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of ChampionX by 6.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 526,091 shares of the company’s stock valued at $18,881,000 after purchasing an additional 32,860 shares during the period. Avantax Advisory Services Inc. bought a new position in shares of ChampionX in the first quarter valued at approximately $587,000. Sei Investments Co. raised its position in shares of ChampionX by 18.0% in the first quarter. Sei Investments Co. now owns 798,936 shares of the company’s stock valued at $28,674,000 after purchasing an additional 121,700 shares during the period. Bayesian Capital Management LP bought a new position in shares of ChampionX in the first quarter valued at approximately $1,052,000. Finally, Nordea Investment Management AB raised its position in shares of ChampionX by 0.5% in the first quarter. Nordea Investment Management AB now owns 233,342 shares of the company’s stock valued at $8,475,000 after purchasing an additional 1,271 shares during the period. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their price target on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th.

ChampionX Trading Down 0.1 %

Shares of CHX stock opened at $28.22 on Friday. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. The firm’s fifty day simple moving average is $30.29 and its 200 day simple moving average is $32.07. The firm has a market capitalization of $5.38 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 1.27 and a beta of 2.37. 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 (NASDAQ:CHX) last announced its earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The company had revenue of $906.53 million for the quarter, compared to the consensus estimate of $916.50 million. During the same period last year, the firm posted $0.41 EPS. The company’s revenue was down 3.5% compared to the same quarter last year. As a group, sell-side analysts predict that ChampionX Co. will post 1.99 EPS for the current year.

ChampionX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Friday, October 4th. ChampionX’s dividend payout ratio (DPR) is currently 23.60%.

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.