Algert Global LLC Raises Position in ChampionX Co. (NASDAQ:CHX)

Algert Global LLC boosted its stake in ChampionX Co. (NASDAQ:CHX) by 5.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 188,309 shares of the company’s stock after buying an additional 8,914 shares during the quarter. Algert Global LLC’s holdings in ChampionX were worth $5,678,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Legend Financial Advisors Inc. lifted its holdings in shares of ChampionX by 1.6% during the second quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company’s stock valued at $713,000 after purchasing an additional 340 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of ChampionX by 2.4% during the third quarter. Nisa Investment Advisors LLC now owns 21,126 shares of the company’s stock valued at $637,000 after acquiring an additional 487 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of ChampionX by 1.4% during the third quarter. PNC Financial Services Group Inc. now owns 54,454 shares of the company’s stock valued at $1,642,000 after acquiring an additional 772 shares in the last quarter. UMB Bank n.a. increased its position in shares of ChampionX by 63.7% during the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after acquiring an additional 882 shares in the last quarter. Finally, AMG National Trust Bank increased its position in shares of ChampionX by 2.9% during the third quarter. AMG National Trust Bank now owns 31,399 shares of the company’s stock valued at $947,000 after acquiring an additional 882 shares in the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Deric D. Bryant sold 49,303 shares of the business’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 owns 337,409 shares of the company’s stock, valued at $10,142,514.54. The trade was a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.38% of the stock is currently owned by insiders.

ChampionX Trading Down 0.1 %

NASDAQ:CHX opened at $31.24 on Friday. 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 Co. has a 12 month low of $25.46 and a 12 month high of $39.95. The company has a market cap of $5.95 billion, a PE ratio of 19.40 and a beta of 2.38. The company has a 50 day simple moving average of $30.46 and a two-hundred day simple moving average of $31.57.

ChampionX (NASDAQ:CHX) last posted its earnings results on Wednesday, October 23rd. The company reported $0.44 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 company had revenue of $906.53 million during the quarter, compared to the consensus estimate of $916.50 million. During the same period last year, the firm posted $0.41 EPS. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. Research analysts forecast that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Friday, January 3rd. ChampionX’s dividend payout ratio (DPR) is presently 23.60%.

Analysts Set New Price Targets

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

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.