Raymond James Financial Inc. Purchases New Position in ChampionX Co. (NASDAQ:CHX)

Raymond James Financial Inc. purchased a new stake in shares of ChampionX Co. (NASDAQ:CHX) in the fourth quarter, Holdings Channel.com reports. The firm purchased 444,255 shares of the company’s stock, valued at approximately $12,080,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its position in shares of ChampionX by 0.3% during the 4th quarter. Van ECK Associates Corp now owns 2,639,352 shares of the company’s stock worth $71,764,000 after buying an additional 9,056 shares in the last quarter. Silphium Asset Management Ltd lifted its holdings in ChampionX by 88.1% during the fourth quarter. Silphium Asset Management Ltd now owns 366,132 shares of the company’s stock worth $9,955,000 after acquiring an additional 171,531 shares during the period. State Street Corp boosted its position in ChampionX by 1.7% in the third quarter. State Street Corp now owns 7,422,097 shares of the company’s stock worth $223,776,000 after purchasing an additional 122,622 shares during the last quarter. Barclays PLC grew its stake in ChampionX by 147.2% in the 3rd quarter. Barclays PLC now owns 357,081 shares of the company’s stock valued at $10,766,000 after purchasing an additional 212,654 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of ChampionX by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,617,387 shares of the company’s stock valued at $139,239,000 after purchasing an additional 63,119 shares during the last quarter. 98.99% of the stock is owned by institutional investors.

ChampionX Price Performance

Shares of NASDAQ:CHX opened at $29.49 on Thursday. The company has a market capitalization of $5.63 billion, a P/E ratio of 17.87 and a beta of 2.28. The company’s 50-day moving average is $29.26 and its 200 day moving average is $29.45. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99. ChampionX Co. has a fifty-two week low of $25.57 and a fifty-two week high of $39.95.

ChampionX (NASDAQ:CHX) last released its earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. On average, equities research analysts forecast that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.095 per share. The ex-dividend date is Friday, April 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.29%. ChampionX’s payout ratio is 23.03%.

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.