Insider Selling: ChampionX Co. (NASDAQ:CHX) Insider Sells 49,303 Shares of Stock

ChampionX Co. (NASDAQ:CHX) insider Deric D. Bryant sold 49,303 shares of the stock in a transaction on 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 completion of the transaction, the insider now owns 337,409 shares of the company’s stock, valued at $10,142,514.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

ChampionX Price Performance

CHX stock opened at $30.86 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.33. ChampionX Co. has a 52-week low of $25.46 and a 52-week high of $39.95. The stock’s 50 day moving average is $30.08 and its two-hundred day moving average is $31.83. The company has a market capitalization of $5.88 billion, a PE ratio of 19.17 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last issued its earnings results on Wednesday, October 23rd. The company reported $0.44 EPS 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 firm had revenue of $906.53 million during the quarter, compared to analyst estimates of $916.50 million. During the same quarter in the previous year, the business posted $0.41 EPS. ChampionX’s revenue was down 3.5% compared to the same quarter last year. Analysts predict that ChampionX Co. will post 1.66 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were given a dividend of $0.095 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.23%. ChampionX’s dividend payout ratio is currently 23.60%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHX. Legend Financial Advisors Inc. raised its stake in ChampionX by 1.6% during the 2nd quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company’s stock valued at $713,000 after acquiring an additional 340 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of ChampionX by 2.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 21,126 shares of the company’s stock worth $637,000 after buying an additional 487 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of ChampionX in the 1st quarter worth $27,000. UMB Bank n.a. raised its stake in shares of ChampionX by 63.7% in the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after buying an additional 882 shares in the last quarter. Finally, AMG National Trust Bank raised its stake in shares of ChampionX by 2.9% in the 3rd quarter. AMG National Trust Bank now owns 31,399 shares of the company’s stock worth $947,000 after buying an additional 882 shares in the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

Analyst Ratings Changes

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

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.