ChampionX Co. (NASDAQ:CHX) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. decreased its position in ChampionX Co. (NASDAQ:CHX) by 84.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 31,108 shares of the company’s stock after selling 169,068 shares during the period. Phocas Financial Corp.’s holdings in ChampionX were worth $846,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. raised its position in shares of ChampionX by 442.4% during the 3rd quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock worth $44,000 after purchasing an additional 1,084 shares during the last quarter. Venturi Wealth Management LLC increased its position in ChampionX by 1,051.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock worth $51,000 after buying an additional 1,725 shares in the last quarter. R Squared Ltd acquired a new position in shares of ChampionX in the fourth quarter worth $103,000. KBC Group NV lifted its position in shares of ChampionX by 18.3% in the third quarter. KBC Group NV now owns 5,827 shares of the company’s stock valued at $176,000 after acquiring an additional 903 shares in the last quarter. Finally, Ieq Capital LLC acquired a new stake in shares of ChampionX during the fourth quarter valued at $228,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Trading Down 1.4 %

Shares of CHX opened at $29.12 on Wednesday. The stock has a fifty day moving average of $28.57 and a two-hundred day moving average of $29.71. ChampionX Co. has a fifty-two week low of $25.57 and a fifty-two week high of $39.95. The company has a market capitalization of $5.56 billion, a PE ratio of 17.65 and a beta of 2.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99.

ChampionX (NASDAQ:CHX) last issued its earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates 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, analysts forecast that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.095 per share. The ex-dividend date is Friday, April 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.30%. ChampionX’s payout ratio is 23.03%.

Analyst Ratings Changes

Separately, Citigroup cut their target price on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a research note 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.