84,490 Shares in ChampionX Co. (NASDAQ:CHX) Purchased by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. acquired a new position in ChampionX Co. (NASDAQ:CHX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 84,490 shares of the company’s stock, valued at approximately $2,806,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. grew its position in shares of ChampionX by 1.6% during the 2nd quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company’s stock worth $713,000 after buying an additional 340 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of ChampionX during the 1st quarter worth about $27,000. Mendota Financial Group LLC grew its position in shares of ChampionX by 19.3% during the 1st quarter. Mendota Financial Group LLC now owns 4,648 shares of the company’s stock worth $167,000 after buying an additional 751 shares during the period. Quadrant Capital Group LLC grew its position in shares of ChampionX by 37.6% during the 4th quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company’s stock worth $89,000 after buying an additional 831 shares during the period. Finally, Meeder Advisory Services Inc. grew its position in shares of ChampionX by 16.4% during the 2nd quarter. Meeder Advisory Services Inc. now owns 6,531 shares of the company’s stock worth $217,000 after buying an additional 918 shares during the period. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

ChampionX Price Performance

Shares of CHX opened at $29.06 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.25 and a current ratio of 1.99. The stock has a 50 day simple moving average of $31.71 and a 200 day simple moving average of $33.04. ChampionX Co. has a 52-week low of $25.46 and a 52-week high of $39.95. The firm has a market capitalization of $5.53 billion, a PE ratio of 15.79, a P/E/G ratio of 1.13 and a beta of 2.37.

ChampionX (NASDAQ:CHX) last released its earnings results on Wednesday, July 24th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.11). The firm had revenue of $893.30 million during the quarter, compared to the consensus estimate of $954.91 million. ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 EPS. Sell-side analysts predict that ChampionX Co. will post 1.99 EPS for the current fiscal year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, October 4th. ChampionX’s payout ratio is 20.65%.

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.