28,476 Shares in ChampionX Co. (NASDAQ:CHX) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new position in ChampionX Co. (NASDAQ:CHX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,476 shares of the company’s stock, valued at approximately $774,000.

Other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in ChampionX by 0.3% during the fourth 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 in the last quarter. Quest Partners LLC grew its position in ChampionX by 86.8% in the third quarter. Quest Partners LLC now owns 69,102 shares of the company’s stock worth $2,083,000 after acquiring an additional 32,103 shares in the last quarter. Silphium Asset Management Ltd grew its position in ChampionX by 88.1% in the fourth quarter. Silphium Asset Management Ltd now owns 366,132 shares of the company’s stock worth $9,955,000 after acquiring an additional 171,531 shares in the last quarter. State Street Corp raised 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 valued at $223,776,000 after purchasing an additional 122,622 shares during the period. Finally, Barclays PLC raised its position in ChampionX by 147.2% during the third 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 period. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup decreased 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 Stock Down 3.1 %

Shares of CHX opened at $28.54 on Wednesday. The firm has a market capitalization of $5.45 billion, a P/E ratio of 17.30 and a beta of 2.28. ChampionX Co. has a 12-month low of $25.57 and a 12-month high of $39.95. The firm has a fifty day moving average price of $29.05 and a 200-day moving average price of $29.53. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32.

ChampionX (NASDAQ:CHX) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.50 EPS for the quarter, topping 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%. Equities research analysts expect that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a $0.095 dividend. The ex-dividend date is Friday, April 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.33%. ChampionX’s payout ratio is presently 23.03%.

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.