Aigen Investment Management LP Decreases Stock Position in ChampionX Co. (NASDAQ:CHX)

Aigen Investment Management LP cut its position in ChampionX Co. (NASDAQ:CHX) by 83.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,065 shares of the company’s stock after selling 35,253 shares during the quarter. Aigen Investment Management LP’s holdings in ChampionX were worth $213,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in ChampionX in the 1st quarter valued at approximately $27,000. Blue Trust Inc. boosted its holdings in shares of ChampionX by 442.4% in the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock worth $44,000 after acquiring an additional 1,084 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of ChampionX in the second quarter valued at $68,000. UMB Bank n.a. raised its stake in shares of ChampionX by 63.7% during the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after purchasing an additional 882 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in ChampionX during the 2nd quarter worth about $194,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Insider Transactions at ChampionX

In related news, insider Deric D. Bryant sold 49,303 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the completion of the sale, the insider now directly owns 337,409 shares in the company, valued at $10,142,514.54. This represents a 12.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.38% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup reduced their price objective on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday.

ChampionX Price Performance

CHX stock opened at $30.64 on Friday. The firm has a 50 day simple moving average of $30.21 and a two-hundred day simple moving average of $31.66. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.20. The stock has a market cap of $5.84 billion, a PE ratio of 19.03 and a beta of 2.38. ChampionX Co. has a one year low of $25.46 and a one year high of $39.95.

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

ChampionX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were given a dividend of $0.095 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.38 annualized dividend and a yield of 1.24%. ChampionX’s payout ratio is 23.60%.

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.