ChampionX Co. (NASDAQ:CHX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of ChampionX Co. (NASDAQ:CHX) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,987,584 shares of the company’s stock after selling 2,197 shares during the period. Principal Financial Group Inc. owned approximately 1.04% of ChampionX worth $59,926,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in ChampionX during the 1st quarter worth approximately $27,000. Blue Trust Inc. boosted its holdings in ChampionX by 442.4% in the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock valued at $44,000 after purchasing an additional 1,084 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in ChampionX during the 2nd quarter worth $68,000. UMB Bank n.a. increased its holdings in ChampionX by 63.7% during the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after purchasing an additional 882 shares during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in ChampionX in the 2nd quarter valued at about $194,000. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity at ChampionX

In related news, insider Deric D. Bryant sold 49,303 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total value of $1,482,048.18. Following the completion of the sale, the insider now directly owns 337,409 shares of the company’s stock, valued at $10,142,514.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.38% of the company’s stock.

ChampionX Stock Down 0.2 %

ChampionX stock opened at $30.79 on Friday. The stock has a market cap of $5.87 billion, a PE ratio of 19.12 and a beta of 2.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.20. The stock’s fifty day moving average is $30.07 and its two-hundred day moving average is $31.78. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95.

ChampionX (NASDAQ:CHX) last issued its earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $906.53 million for the quarter, compared to analyst estimates of $916.50 million. ChampionX had a return on equity of 19.74% and a net margin of 8.59%. ChampionX’s revenue was down 3.5% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. On average, sell-side analysts expect that ChampionX Co. will post 1.66 EPS for the current fiscal 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 $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Friday, October 4th. ChampionX’s dividend payout ratio (DPR) is 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.