Wolverine Asset Management LLC Has $3.22 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Wolverine Asset Management LLC increased its holdings in ChampionX Co. (NASDAQ:CHX) by 29.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,836 shares of the company’s stock after acquiring an additional 24,392 shares during the period. Wolverine Asset Management LLC owned about 0.06% of ChampionX worth $3,221,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of ChampionX in the first quarter worth approximately $27,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of ChampionX by 3.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 41,534 shares of the company’s stock valued at $1,491,000 after purchasing an additional 1,319 shares during the last quarter. Sei Investments Co. lifted its position in shares of ChampionX by 18.0% during the first quarter. Sei Investments Co. now owns 798,936 shares of the company’s stock valued at $28,674,000 after purchasing an additional 121,700 shares in the last quarter. Meeder Advisory Services Inc. purchased a new position in ChampionX during the first quarter worth about $201,000. Finally, Russell Investments Group Ltd. grew its position in ChampionX by 2.5% in the 1st quarter. Russell Investments Group Ltd. now owns 228,230 shares of the company’s stock worth $8,191,000 after purchasing an additional 5,528 shares in the last quarter. Institutional investors own 98.99% of the company’s stock.

ChampionX Price Performance

Shares of NASDAQ CHX opened at $31.67 on Tuesday. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95. The stock has a fifty day simple moving average of $30.08 and a two-hundred day simple moving average of $31.73. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 19.67 and a beta of 2.38. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33.

ChampionX (NASDAQ:CHX) last issued its 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 net margin of 8.59% and a return on equity of 19.74%. The business had revenue of $906.53 million for the quarter, compared to the consensus estimate of $916.50 million. During the same period in the previous year, the firm earned $0.41 EPS. The company’s revenue was down 3.5% compared to the same quarter last year. Analysts anticipate that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were issued a $0.095 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.20%. ChampionX’s payout ratio is currently 23.60%.

Insider Activity at ChampionX

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total value of $1,482,048.18. Following the transaction, the insider now directly owns 337,409 shares in the company, valued at $10,142,514.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.