Cerity Partners LLC Purchases 113,232 Shares of ChampionX Co. (NASDAQ:CHX)

Cerity Partners LLC raised its position in ChampionX Co. (NASDAQ:CHX) by 291.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 152,038 shares of the company’s stock after purchasing an additional 113,232 shares during the period. Cerity Partners LLC’s holdings in ChampionX were worth $4,584,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CHX. Blue Trust Inc. increased its position in shares of ChampionX by 442.4% during the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock valued at $44,000 after acquiring an additional 1,084 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in ChampionX in the 2nd quarter valued at $68,000. UMB Bank n.a. increased its position in shares of ChampionX by 63.7% during the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after purchasing an additional 882 shares during the last quarter. KBC Group NV raised its stake in shares of ChampionX by 18.3% during the 3rd quarter. KBC Group NV now owns 5,827 shares of the company’s stock worth $176,000 after purchasing an additional 903 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of ChampionX in the 2nd quarter worth about $194,000. Institutional investors own 98.99% of the company’s stock.

Insider Buying and Selling at ChampionX

In other news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction dated 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 sale, the insider now directly owns 337,409 shares of the company’s stock, valued at approximately $10,142,514.54. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.38% of the company’s stock.

ChampionX Stock Performance

Shares of CHX opened at $30.70 on Friday. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. 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 price is $30.53 and its two-hundred day moving average price is $31.49. The firm has a market cap of $5.85 billion, a PE ratio of 19.07 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data 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). The firm had revenue of $906.53 million during the quarter, compared to the consensus estimate of $916.50 million. ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The company’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. On average, equities research analysts forecast that ChampionX Co. will post 1.66 EPS for the current year.

ChampionX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be paid a $0.095 dividend. The ex-dividend date is Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.24%. ChampionX’s dividend payout ratio is 23.60%.

Analysts Set New Price Targets

Separately, Citigroup lowered their price objective on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th.

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.