ChampionX Co. (NASDAQ:CHX) Shares Sold by Mendota Financial Group LLC

Mendota Financial Group LLC reduced its position in ChampionX Co. (NASDAQ:CHX) by 28.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,305 shares of the company’s stock after selling 1,343 shares during the quarter. Mendota Financial Group LLC’s holdings in ChampionX were worth $90,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CHX. Nisa Investment Advisors LLC grew its holdings in shares of ChampionX by 2.4% in the third quarter. Nisa Investment Advisors LLC now owns 21,126 shares of the company’s stock valued at $637,000 after purchasing an additional 487 shares during the period. HighTower Advisors LLC boosted its holdings in ChampionX by 4.3% in the 3rd quarter. HighTower Advisors LLC now owns 13,621 shares of the company’s stock valued at $405,000 after purchasing an additional 564 shares during the last quarter. Coldstream Capital Management Inc. grew its stake in shares of ChampionX by 6.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 9,625 shares of the company’s stock valued at $290,000 after buying an additional 594 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of ChampionX by 1.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 54,454 shares of the company’s stock worth $1,642,000 after buying an additional 772 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of ChampionX by 63.7% during the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after buying an additional 882 shares during the period. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Price Performance

Shares of CHX opened at $28.16 on Tuesday. The firm has a 50-day simple moving average of $29.00 and a two-hundred day simple moving average of $30.48. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.20. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95. The stock has a market cap of $5.36 billion, a PE ratio of 17.49 and a beta of 2.36.

ChampionX (NASDAQ:CHX) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The firm had revenue of $906.53 million for the quarter, compared to analyst estimates of $916.50 million. During the same quarter last year, the company earned $0.41 earnings per share. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, analysts forecast that ChampionX Co. will post 1.66 EPS for the current year.

ChampionX Dividend Announcement

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 paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX’s payout ratio is currently 23.60%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, insider Deric D. Bryant sold 49,303 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the completion of the transaction, the insider now directly owns 337,409 shares of the company’s stock, valued at $10,142,514.54. The trade was a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.38% of the stock is owned by company insiders.

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.