R Squared Ltd Makes New Investment in ChampionX Co. (NASDAQ:CHX)

R Squared Ltd bought a new stake in shares of ChampionX Co. (NASDAQ:CHX) during the fourth quarter, Holdings Channel reports. The fund bought 3,790 shares of the company’s stock, valued at approximately $103,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp boosted its position in ChampionX by 1.7% during the third quarter. State Street Corp now owns 7,422,097 shares of the company’s stock worth $223,776,000 after acquiring an additional 122,622 shares during the last quarter. Geode Capital Management LLC increased its holdings in ChampionX by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,617,387 shares of the company’s stock valued at $139,239,000 after purchasing an additional 63,119 shares during the last quarter. Westchester Capital Management LLC lifted its stake in ChampionX by 67.8% during the 3rd quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company’s stock worth $85,268,000 after acquiring an additional 1,142,628 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of ChampionX by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,623,131 shares of the company’s stock worth $79,087,000 after purchasing an additional 84,875 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in ChampionX by 4.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,133,863 shares of the company’s stock worth $34,186,000 after buying an additional 50,120 shares in the last quarter. 98.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ChampionX

In other ChampionX 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 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. This trade represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.38% of the stock is owned by insiders.

ChampionX Trading Up 0.4 %

NASDAQ CHX opened at $29.21 on Friday. ChampionX Co. has a 52 week low of $25.57 and a 52 week high of $39.95. The firm has a 50 day moving average of $28.73 and a two-hundred day moving average of $30.25. The stock has a market capitalization of $5.56 billion, a PE ratio of 18.14 and a beta of 2.36. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX’s dividend payout ratio (DPR) is presently 23.60%.

Analyst Ratings Changes

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

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.