ChampionX (NASDAQ:CHX) Sees Unusually-High Trading Volume Following Dividend Announcement

ChampionX Co. (NASDAQ:CHX) saw an uptick in trading volume on Thursday following a dividend announcement from the company. 3,355,293 shares traded hands during trading, an increase of 2% from the previous session’s volume of 3,285,459 shares.The stock last traded at $29.88 and had previously closed at $30.37.

The newly announced dividend which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX’s payout ratio is currently 23.03%.

ChampionX Trading Down 0.9 %

The business has a 50-day moving average of $29.44 and a 200 day moving average of $29.47. The stock has a market cap of $5.70 billion, a PE ratio of 18.10 and a beta of 2.28. 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 (NASDAQ:CHX) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. Equities research analysts predict that ChampionX Co. will post 1.92 EPS for the current fiscal year.

Institutional Investors Weigh In On ChampionX

Institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp grew its stake in shares of ChampionX by 153.2% during the 4th quarter. Jones Financial Companies Lllp now owns 924 shares of the company’s stock valued at $25,000 after buying an additional 559 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of ChampionX by 1,051.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock worth $51,000 after purchasing an additional 1,725 shares during the period. R Squared Ltd purchased a new position in shares of ChampionX in the 4th quarter worth about $103,000. Vestcor Inc grew its holdings in shares of ChampionX by 71.6% during the 4th quarter. Vestcor Inc now owns 5,032 shares of the company’s stock worth $137,000 after purchasing an additional 2,100 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in ChampionX by 82,557.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company’s stock worth $157,000 after purchasing an additional 5,779 shares in the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

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.