Virtu Financial LLC Acquires Shares of 149,857 ChampionX Co. (NASDAQ:CHX)

Virtu Financial LLC bought a new stake in ChampionX Co. (NASDAQ:CHX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 149,857 shares of the company’s stock, valued at approximately $4,977,000. Virtu Financial LLC owned about 0.08% of ChampionX at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Pekin Hardy Strauss Inc. purchased a new position in ChampionX in the 2nd quarter valued at $2,806,000. Renaissance Technologies LLC acquired a new stake in shares of ChampionX in the 2nd quarter worth $20,677,000. Alpine Associates Management Inc. purchased a new stake in shares of ChampionX in the second quarter valued at about $11,786,000. Federated Hermes Inc. increased its stake in shares of ChampionX by 10.0% during the second quarter. Federated Hermes Inc. now owns 798,279 shares of the company’s stock worth $26,511,000 after acquiring an additional 72,549 shares during the period. Finally, Meeder Advisory Services Inc. raised its holdings in ChampionX by 16.4% during the second quarter. Meeder Advisory Services Inc. now owns 6,531 shares of the company’s stock worth $217,000 after purchasing an additional 918 shares in the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Stock Up 1.6 %

Shares of NASDAQ CHX opened at $29.06 on Tuesday. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.13 and a beta of 2.37. ChampionX Co. has a 52 week low of $25.46 and a 52 week high of $39.95. The firm has a 50-day moving average price of $31.71 and a 200 day moving average price of $33.04. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.34.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.11). The firm had revenue of $893.30 million for the quarter, compared to analysts’ expectations of $954.91 million. ChampionX had a return on equity of 19.72% and a net margin of 8.66%. During the same period last year, the firm earned $0.48 EPS. ChampionX’s revenue was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that ChampionX Co. will post 1.99 EPS for the current fiscal year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, October 4th. ChampionX’s dividend payout ratio (DPR) is 20.65%.

Analysts Set New Price Targets

Separately, Piper Sandler lowered their price objective on ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ChampionX currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

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.