ChampionX Co. (NASDAQ:CHX) Stake Lowered by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its stake in ChampionX Co. (NASDAQ:CHX) by 8.3% during the second quarter, HoldingsChannel reports. The fund owned 3,452,400 shares of the company’s stock after selling 312,949 shares during the quarter. Dimensional Fund Advisors LP’s holdings in ChampionX were worth $114,653,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CHX. Legend Financial Advisors Inc. raised its stake in shares of ChampionX by 1.6% during the 2nd quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company’s stock worth $713,000 after purchasing an additional 340 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in ChampionX in the first quarter valued at approximately $27,000. Mendota Financial Group LLC grew its position in ChampionX by 19.3% in the first quarter. Mendota Financial Group LLC now owns 4,648 shares of the company’s stock worth $167,000 after acquiring an additional 751 shares in the last quarter. Meeder Advisory Services Inc. increased its stake in shares of ChampionX by 16.4% during the 2nd quarter. Meeder Advisory Services Inc. now owns 6,531 shares of the company’s stock worth $217,000 after purchasing an additional 918 shares during the last quarter. Finally, EntryPoint Capital LLC raised its holdings in shares of ChampionX by 18.9% during the 1st quarter. EntryPoint Capital LLC now owns 5,817 shares of the company’s stock valued at $209,000 after purchasing an additional 923 shares in the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler decreased their price objective on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.00.

ChampionX Stock Up 1.4 %

Shares of ChampionX stock opened at $30.98 on Tuesday. The stock has a market capitalization of $5.90 billion, a P/E ratio of 16.84, a PEG ratio of 1.13 and a beta of 2.37. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average price of $31.50 and a two-hundred day moving average price of $33.00. ChampionX Co. has a 12-month low of $25.46 and a 12-month high of $39.95.

ChampionX (NASDAQ:CHX) last announced its earnings results on Wednesday, July 24th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.11). The company had revenue of $893.30 million for the quarter, compared to the consensus estimate of $954.91 million. ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 EPS. Equities analysts expect that ChampionX Co. will post 1.99 earnings per share for the current year.

ChampionX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.23%. ChampionX’s payout ratio is currently 20.65%.

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.