ChampionX Co. (NASDAQ:CHX) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its holdings in ChampionX Co. (NASDAQ:CHX) by 33.4% in the third quarter, Holdings Channel reports. The fund owned 770,690 shares of the company’s stock after selling 386,743 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in ChampionX were worth $23,236,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CHX. Blue Trust Inc. increased its holdings in shares of 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 purchasing an additional 1,084 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of ChampionX in the 2nd quarter worth $68,000. UMB Bank n.a. raised its holdings in shares of 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 acquiring an additional 882 shares during the period. KBC Group NV boosted its position in shares of 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 acquiring an additional 903 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of ChampionX in the second quarter valued at about $194,000. 98.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ChampionX

In other news, insider Deric D. Bryant sold 49,303 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 approximately $10,142,514.54. This trade represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

ChampionX Stock Performance

Shares of ChampionX stock opened at $30.74 on Wednesday. The firm has a market cap of $5.86 billion, a PE ratio of 19.09 and a beta of 2.38. 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 business’s fifty day simple moving average is $30.53 and its 200-day simple moving average is $31.40.

ChampionX (NASDAQ:CHX) last posted its earnings results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The company had revenue of $906.53 million during the quarter, compared to analyst estimates of $916.50 million. During the same period in the previous year, the company earned $0.41 EPS. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. Equities analysts forecast that ChampionX Co. will post 1.66 earnings per share 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 given 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 currently 23.60%.

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.