US Bancorp DE Sells 1,477 Shares of ChampionX Co. (NASDAQ:CHX)

US Bancorp DE reduced its stake in shares of ChampionX Co. (NASDAQ:CHX) by 1.5% in the third quarter, HoldingsChannel reports. The firm owned 99,705 shares of the company’s stock after selling 1,477 shares during the period. US Bancorp DE’s holdings in ChampionX were worth $3,006,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Iridian Asset Management LLC CT lifted its stake in shares of ChampionX by 0.9% during the 3rd quarter. Iridian Asset Management LLC CT now owns 127,943 shares of the company’s stock worth $3,857,000 after purchasing an additional 1,123 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of ChampionX by 2.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 21,126 shares of the company’s stock worth $637,000 after purchasing an additional 487 shares during the last quarter. State of Alaska Department of Revenue raised its stake in ChampionX by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 22,238 shares of the company’s stock valued at $670,000 after buying an additional 1,500 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in ChampionX by 13.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 21,527 shares of the company’s stock valued at $649,000 after buying an additional 2,485 shares during the last quarter. Finally, Narwhal Capital Management raised its stake in ChampionX by 17.9% in the third quarter. Narwhal Capital Management now owns 197,138 shares of the company’s stock valued at $5,944,000 after buying an additional 29,966 shares during the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their price target on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, July 15th.

ChampionX Trading Up 1.2 %

ChampionX stock opened at $28.76 on Wednesday. The stock has a 50-day moving average of $30.14 and a two-hundred day moving average of $31.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. ChampionX Co. has a one year low of $25.46 and a one year high of $39.95. The stock has a market cap of $5.48 billion, a PE ratio of 17.85 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The firm had revenue of $906.53 million during the quarter, compared to analysts’ expectations of $916.50 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, research analysts anticipate that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were paid a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, October 4th. ChampionX’s payout ratio is 23.60%.

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.