Nisa Investment Advisors LLC Has $5.74 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Nisa Investment Advisors LLC grew its position in ChampionX Co. (NASDAQ:CHX) by 899.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 211,103 shares of the company’s stock after acquiring an additional 189,977 shares during the quarter. Nisa Investment Advisors LLC’s holdings in ChampionX were worth $5,740,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. HighTower Advisors LLC increased its holdings in ChampionX by 4.3% in the third quarter. HighTower Advisors LLC now owns 13,621 shares of the company’s stock worth $405,000 after buying an additional 564 shares during the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of ChampionX by 6.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,625 shares of the company’s stock valued at $290,000 after purchasing an additional 594 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of ChampionX by 1.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 54,454 shares of the company’s stock valued at $1,642,000 after purchasing an additional 772 shares during the last quarter. UMB Bank n.a. boosted its holdings in ChampionX by 63.7% in the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after purchasing an additional 882 shares in the last quarter. Finally, AMG National Trust Bank increased its position in ChampionX by 2.9% during the third quarter. AMG National Trust Bank now owns 31,399 shares of the company’s stock worth $947,000 after buying an additional 882 shares during the last quarter. 98.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction dated 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 sale, the insider now owns 337,409 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

ChampionX Price Performance

NASDAQ CHX opened at $30.05 on Friday. The company has a market cap of $5.72 billion, a P/E ratio of 18.66 and a beta of 2.36. ChampionX Co. has a 1 year low of $25.57 and a 1 year high of $39.95. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $28.84 and a 200 day simple moving average of $30.32.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The business had revenue of $906.53 million during the quarter, compared to analyst estimates of $916.50 million. During the same period in the prior year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, sell-side analysts predict that ChampionX Co. will post 1.71 EPS for the current year.

ChampionX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.095 per share. The ex-dividend date is Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.26%. ChampionX’s dividend payout ratio (DPR) is presently 23.60%.

ChampionX 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.