Townsquare Capital LLC Sells 2,376 Shares of ChampionX Co. (NASDAQ:CHX)

Townsquare Capital LLC decreased its position in ChampionX Co. (NASDAQ:CHX) by 15.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,895 shares of the company’s stock after selling 2,376 shares during the quarter. Townsquare Capital LLC’s holdings in ChampionX were worth $389,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its stake 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 in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of ChampionX during the second quarter worth $68,000. UMB Bank n.a. grew its stake in shares of ChampionX by 63.7% in the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after acquiring an additional 882 shares in the last quarter. KBC Group NV boosted its stake in shares of ChampionX by 18.3% in the third quarter. KBC Group NV now owns 5,827 shares of the company’s stock valued at $176,000 after buying an additional 903 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of ChampionX during the 2nd quarter valued at $194,000. Institutional investors own 98.99% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup lowered their price target on ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

ChampionX Stock Down 1.1 %

Shares of NASDAQ:CHX opened at $29.73 on Friday. The business’s 50-day moving average is $30.53 and its 200-day moving average is $31.37. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 18.47 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.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 19.74% and a net margin of 8.59%. The firm’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 EPS. Equities research analysts predict that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.38 annualized dividend and a yield of 1.28%. ChampionX’s payout ratio is currently 23.60%.

Insider Buying and Selling at ChampionX

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 337,409 shares in the company, valued at $10,142,514.54. This represents a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.38% of the stock is owned by corporate insiders.

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.