KBC Group NV Purchases 903 Shares of ChampionX Co. (NASDAQ:CHX)

KBC Group NV lifted its stake in ChampionX Co. (NASDAQ:CHX) by 18.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,827 shares of the company’s stock after acquiring an additional 903 shares during the period. KBC Group NV’s holdings in ChampionX were worth $176,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in CHX. Allspring Global Investments Holdings LLC acquired a new stake in ChampionX in the first quarter valued at approximately $27,000. Blue Trust Inc. increased its stake in shares of ChampionX by 442.4% during the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock worth $44,000 after buying an additional 1,084 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in ChampionX in the second quarter valued at $68,000. UMB Bank n.a. grew its position in shares of ChampionX by 63.7% in the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after buying an additional 882 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of ChampionX in the second quarter valued at approximately $194,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup lowered their target price on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 14th.

ChampionX Stock Up 0.6 %

Shares of NASDAQ CHX opened at $30.70 on Thursday. ChampionX Co. has a 12-month low of $25.46 and a 12-month high of $39.95. The company has a market capitalization of $5.85 billion, a PE ratio of 19.07 and a beta of 2.38. The firm’s 50-day moving average is $30.35 and its two-hundred day moving average is $31.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.20.

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

ChampionX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be issued a $0.095 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.38 annualized dividend and a yield of 1.24%. ChampionX’s dividend payout ratio is currently 23.60%.

Insider Activity

In other news, insider Deric D. Bryant sold 49,303 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total value of $1,482,048.18. Following the sale, the insider now owns 337,409 shares in the company, valued at approximately $10,142,514.54. This represents a 12.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.38% of the company’s stock.

ChampionX Company 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.