ChampionX Co. (NASDAQ:CHX) Shares Bought by ClearAlpha Technologies LP

ClearAlpha Technologies LP increased its position in ChampionX Co. (NASDAQ:CHX) by 87.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 273,409 shares of the company’s stock after purchasing an additional 127,482 shares during the quarter. ChampionX accounts for 2.3% of ClearAlpha Technologies LP’s portfolio, making the stock its 9th largest position. ClearAlpha Technologies LP owned 0.14% of ChampionX worth $8,243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHX. Benjamin Edwards Inc. increased its stake in shares of ChampionX by 31.9% in the third quarter. Benjamin Edwards Inc. now owns 16,975 shares of the company’s stock worth $512,000 after buying an additional 4,105 shares during the last quarter. Slotnik Capital LLC grew its holdings in ChampionX by 9.5% during the 3rd quarter. Slotnik Capital LLC now owns 580,696 shares of the company’s stock worth $17,508,000 after acquiring an additional 50,362 shares in the last quarter. Westchester Capital Management LLC increased its position in shares of ChampionX by 67.8% in the 3rd quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company’s stock worth $85,268,000 after purchasing an additional 1,142,628 shares during the last quarter. Verition Fund Management LLC raised its stake in shares of ChampionX by 164.7% in the 3rd quarter. Verition Fund Management LLC now owns 320,100 shares of the company’s stock valued at $9,651,000 after purchasing an additional 199,169 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of ChampionX by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 497,571 shares of the company’s stock worth $15,002,000 after purchasing an additional 7,569 shares during the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Insiders Place Their Bets

In other news, insider Deric D. Bryant sold 49,303 shares of ChampionX stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the sale, the insider now owns 337,409 shares of the company’s stock, valued at approximately $10,142,514.54. The trade was a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.38% of the stock is owned by corporate insiders.

ChampionX Stock Up 0.8 %

Shares of NASDAQ:CHX opened at $30.95 on Monday. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95. The company’s fifty day moving average is $30.54 and its two-hundred day moving average is $31.44. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 19.22 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last issued its earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The business had revenue of $906.53 million during the quarter, compared to the consensus estimate of $916.50 million. ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The business’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. Equities analysts anticipate that ChampionX Co. will post 1.66 EPS for the current year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors 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 yield of 1.23%. ChampionX’s payout ratio is currently 23.60%.

Wall Street Analysts Forecast Growth

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

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.