Earnest Partners LLC Sells 543 Shares of ChampionX Co. (NASDAQ:CHX)

Earnest Partners LLC decreased its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 0.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,164,333 shares of the company’s stock after selling 543 shares during the quarter. Earnest Partners LLC’s holdings in ChampionX were worth $38,667,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CHX. Hawk Ridge Capital Management LP bought a new stake in ChampionX during the 4th quarter valued at approximately $67,592,000. Magnetar Financial LLC bought a new stake in shares of ChampionX in the 2nd quarter worth approximately $72,860,000. Squarepoint Ops LLC acquired a new stake in shares of ChampionX during the 2nd quarter worth approximately $21,669,000. Renaissance Technologies LLC acquired a new stake in shares of ChampionX during the 2nd quarter worth approximately $20,677,000. Finally, Picton Mahoney Asset Management acquired a new stake in shares of ChampionX during the 2nd quarter worth approximately $19,442,000. Institutional investors own 98.99% of the company’s stock.

ChampionX Price Performance

Shares of NASDAQ:CHX opened at $29.60 on Friday. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95. The firm has a market capitalization of $5.64 billion, a PE ratio of 16.09, a PEG ratio of 1.24 and a beta of 2.37. The business’s 50 day moving average is $31.24 and its 200-day moving average is $32.95. 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 (NASDAQ:CHX) last posted its earnings results on Wednesday, July 24th. The company reported $0.37 EPS for the quarter, missing the consensus estimate 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%. ChampionX’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 EPS. Sell-side analysts predict that ChampionX Co. will post 1.99 earnings per share for the current year.

ChampionX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a dividend of $0.095 per share. The ex-dividend date is Friday, October 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.28%. ChampionX’s dividend payout ratio (DPR) is presently 20.65%.

Analyst Ratings Changes

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

About ChampionX

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.