Caxton Associates LP bought a new position in ChampionX Co. (NASDAQ:CHX – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $664,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new position in ChampionX in the 4th quarter worth about $11,182,000. Wells Fargo & Company MN lifted its stake in ChampionX by 0.8% during the 4th quarter. Wells Fargo & Company MN now owns 426,537 shares of the company’s stock valued at $12,459,000 after acquiring an additional 3,240 shares during the period. Advisory Services Network LLC lifted its stake in ChampionX by 12.4% during the 4th quarter. Advisory Services Network LLC now owns 10,885 shares of the company’s stock valued at $318,000 after acquiring an additional 1,201 shares during the period. United Services Automobile Association lifted its stake in ChampionX by 14.5% during the 4th quarter. United Services Automobile Association now owns 15,934 shares of the company’s stock valued at $465,000 after acquiring an additional 2,021 shares during the period. Finally, TD Asset Management Inc lifted its stake in ChampionX by 24.8% during the 4th quarter. TD Asset Management Inc now owns 91,864 shares of the company’s stock valued at $2,683,000 after acquiring an additional 18,250 shares during the period. 98.99% of the stock is owned by hedge funds and other institutional investors.
ChampionX Trading Down 1.6 %
ChampionX stock opened at $29.60 on Friday. The firm has a 50 day moving average of $31.24 and a 200 day moving average of $32.95. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 1.24 and a beta of 2.37. ChampionX Co. has a 12-month low of $25.46 and a 12-month high of $39.95. The company has a current ratio of 1.99, a quick ratio of 1.25 and a debt-to-equity ratio of 0.34.
ChampionX Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, October 4th. ChampionX’s dividend payout ratio (DPR) is presently 20.65%.
Analyst Upgrades and Downgrades
Separately, Piper Sandler lowered their price objective on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.
View Our Latest Research Report on ChampionX
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.
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