Quantbot Technologies LP Takes $2.05 Million Position in ChampionX Co. (NASDAQ:CHX)

Quantbot Technologies LP acquired a new position in shares of ChampionX Co. (NASDAQ:CHX) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 68,138 shares of the company’s stock, valued at approximately $2,054,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CHX. Blue Trust Inc. raised its stake in ChampionX by 442.4% in the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock valued at $44,000 after buying an additional 1,084 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in ChampionX in the 2nd quarter worth approximately $68,000. UMB Bank n.a. grew its position in ChampionX by 63.7% during the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after purchasing an additional 882 shares during the last quarter. KBC Group NV increased its stake in ChampionX by 18.3% during the 3rd quarter. KBC Group NV now owns 5,827 shares of the company’s stock valued at $176,000 after purchasing an additional 903 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of ChampionX during the second quarter worth $194,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Stock Performance

Shares of NASDAQ CHX opened at $30.70 on Friday. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 19.07 and a beta of 2.38. ChampionX Co. has a 12 month low of $25.46 and a 12 month high of $39.95. The company has a 50 day simple moving average of $30.53 and a two-hundred day simple moving average of $31.49. 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 announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share 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 company had revenue of $906.53 million for the quarter, compared to analyst estimates of $916.50 million. During the same period in the prior year, the business posted $0.41 earnings per share. ChampionX’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, analysts predict that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.24%. ChampionX’s payout ratio is 23.60%.

Insider Activity at ChampionX

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

Analysts Set New Price Targets

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

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.