National Bank of Canada FI Has $105,000 Stock Position in ChampionX Co. (NASDAQ:CHX)

National Bank of Canada FI cut its stake in shares of ChampionX Co. (NASDAQ:CHX) by 14.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,468 shares of the company’s stock after selling 566 shares during the period. National Bank of Canada FI’s holdings in ChampionX were worth $105,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of ChampionX by 442.4% during the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock worth $44,000 after purchasing an additional 1,084 shares during the period. DekaBank Deutsche Girozentrale bought a new position in ChampionX during the 2nd quarter worth $68,000. UMB Bank n.a. lifted its holdings in shares of ChampionX by 63.7% during the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after buying an additional 882 shares in the last quarter. KBC Group NV grew 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 acquiring an additional 903 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in ChampionX during the second quarter worth about $194,000. Institutional investors own 98.99% of the company’s stock.

Analysts Set New Price Targets

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

ChampionX Stock Performance

CHX opened at $28.34 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. ChampionX Co. has a 52-week low of $25.46 and a 52-week high of $39.95. The firm has a market cap of $5.40 billion, a P/E ratio of 17.60 and a beta of 2.38. The business’s fifty day moving average is $30.17 and its 200-day moving average is $31.13.

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). ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The firm had revenue of $906.53 million for the quarter, compared to analyst estimates of $916.50 million. During the same quarter in the previous year, the company earned $0.41 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. Sell-side analysts expect that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.34%. The ex-dividend date is Friday, January 3rd. ChampionX’s payout ratio is presently 23.60%.

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 completion of the transaction, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.38% of the company’s stock.

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.