Healthcare of Ontario Pension Plan Trust Fund Acquires New Position in ChampionX Co. (NASDAQ:CHX)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ChampionX Co. (NASDAQ:CHX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 250,000 shares of the company’s stock, valued at approximately $8,302,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.13% of ChampionX at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in ChampionX by 6.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 526,091 shares of the company’s stock worth $18,881,000 after purchasing an additional 32,860 shares during the period. Avantax Advisory Services Inc. purchased a new position in ChampionX in the 1st quarter worth approximately $587,000. Sei Investments Co. increased its stake in ChampionX by 18.0% in the 1st quarter. Sei Investments Co. now owns 798,936 shares of the company’s stock worth $28,674,000 after purchasing an additional 121,700 shares during the period. Fisher Asset Management LLC increased its stake in ChampionX by 7.2% in the 4th quarter. Fisher Asset Management LLC now owns 365,798 shares of the company’s stock worth $10,685,000 after purchasing an additional 24,662 shares during the period. Finally, Norden Group LLC increased its stake in ChampionX by 2,033.3% in the 1st quarter. Norden Group LLC now owns 251,775 shares of the company’s stock worth $9,036,000 after purchasing an additional 239,973 shares during the period. 98.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their target price on ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

ChampionX Trading Up 1.6 %

NASDAQ CHX opened at $32.47 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.34. ChampionX Co. has a twelve month low of $25.46 and a twelve month high of $39.95. The firm has a market capitalization of $6.18 billion, a PE ratio of 17.65, a P/E/G ratio of 1.24 and a beta of 2.37. The stock’s 50 day moving average is $30.88 and its 200 day moving average is $32.91.

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

ChampionX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, October 4th. ChampionX’s payout ratio is currently 20.65%.

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.