ChampionX Co. (NASDAQ:CHX) Short Interest Update

ChampionX Co. (NASDAQ:CHX) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 7,160,000 shares, a growth of 12.2% from the August 31st total of 6,380,000 shares. Based on an average trading volume of 1,610,000 shares, the short-interest ratio is currently 4.4 days. Currently, 3.8% of the company’s shares are sold short.

Institutional Trading of ChampionX

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in ChampionX by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 20,033,091 shares of the company’s stock valued at $585,167,000 after purchasing an additional 62,967 shares during the last quarter. Congress Asset Management Co. MA grew its position in ChampionX by 2.1% during the first quarter. Congress Asset Management Co. MA now owns 3,991,117 shares of the company’s stock valued at $143,241,000 after buying an additional 80,626 shares during the period. Bessemer Group Inc. boosted its stake in shares of ChampionX by 2.6% during the 1st quarter. Bessemer Group Inc. now owns 3,842,425 shares of the company’s stock worth $137,905,000 after acquiring an additional 99,100 shares in the last quarter. Millennium Management LLC grew its holdings in ChampionX by 12,607.0% in the second quarter. Millennium Management LLC now owns 3,120,847 shares of the company’s stock valued at $103,643,000 after purchasing an additional 3,096,287 shares during the period. Finally, Hawk Ridge Capital Management LP acquired a new stake in ChampionX in the 4th quarter valued at $67,592,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

ChampionX Stock Up 1.9 %

NASDAQ CHX traded up $0.58 during midday trading on Tuesday, hitting $30.73. 569,952 shares of the company traded hands, compared to its average volume of 1,856,697. ChampionX has a 52 week low of $25.46 and a 52 week high of $39.95. The company’s 50-day simple moving average is $31.05 and its 200-day simple moving average is $32.94. The company has a market cap of $5.85 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.24 and a beta of 2.37. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.99 and a quick ratio of 1.25.

ChampionX (NASDAQ:CHX) last announced its earnings results on Wednesday, July 24th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 19.72% and a net margin of 8.66%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 earnings per share. As a group, equities research analysts forecast that ChampionX will post 1.99 earnings per share for the current year.

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, October 4th. ChampionX’s dividend payout ratio is presently 20.65%.

Analyst Ratings Changes

Separately, Piper Sandler dropped their price target on ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, ChampionX currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

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.