Chevy Chase Trust Holdings LLC Sells 408,468 Shares of ChampionX Co. (NASDAQ:CHX)

Chevy Chase Trust Holdings LLC reduced its holdings in ChampionX Co. (NASDAQ:CHX) by 53.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 362,222 shares of the company’s stock after selling 408,468 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.19% of ChampionX worth $9,849,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CHX. Van ECK Associates Corp increased its position in shares of ChampionX by 0.3% during the 4th quarter. Van ECK Associates Corp now owns 2,639,352 shares of the company’s stock valued at $71,764,000 after purchasing an additional 9,056 shares during the last quarter. Quest Partners LLC increased its position in shares of ChampionX by 86.8% during the 3rd quarter. Quest Partners LLC now owns 69,102 shares of the company’s stock valued at $2,083,000 after purchasing an additional 32,103 shares during the last quarter. State Street Corp increased its position in shares of ChampionX by 1.7% during the 3rd quarter. State Street Corp now owns 7,422,097 shares of the company’s stock valued at $223,776,000 after purchasing an additional 122,622 shares during the last quarter. Barclays PLC increased its position in shares of ChampionX by 147.2% during the 3rd quarter. Barclays PLC now owns 357,081 shares of the company’s stock valued at $10,766,000 after purchasing an additional 212,654 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of ChampionX by 1.4% during 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. 98.99% of the stock is currently owned by institutional investors.

ChampionX Trading Down 1.0 %

Shares of CHX stock opened at $29.44 on Monday. The stock has a market capitalization of $5.62 billion, a PE ratio of 17.84 and a beta of 2.35. ChampionX Co. has a 1-year low of $25.57 and a 1-year high of $39.95. The business has a 50-day moving average of $28.43 and a 200 day moving average of $29.78. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.20.

ChampionX (NASDAQ:CHX) last issued its earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. As a group, sell-side analysts anticipate that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 3rd were issued a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.29%. The ex-dividend date was Friday, January 3rd. ChampionX’s dividend payout ratio (DPR) is currently 23.03%.

Analyst Ratings Changes

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

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.