ChampionX (NASDAQ:CHX) Sees Large Volume Increase After Dividend Announcement

ChampionX Co. (NASDAQ:CHX) saw an uptick in trading volume on Thursday after the company announced a dividend. 3,355,293 shares changed hands during mid-day trading, an increase of 2% from the previous session’s volume of 3,285,459 shares.The stock last traded at $29.88 and had previously closed at $30.37.

The newly announced dividend which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.095 per share. The ex-dividend date is Friday, April 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.27%. ChampionX’s dividend payout ratio (DPR) is 23.03%.

ChampionX Price Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99. The company has a 50-day moving average of $29.45 and a 200-day moving average of $29.46. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 18.11 and a beta of 2.28.

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

Hedge Funds Weigh In On ChampionX

A number of institutional investors have recently modified their holdings of CHX. Wellington Management Group LLP lifted its stake in shares of ChampionX by 80.9% during the 4th quarter. Wellington Management Group LLP now owns 769,436 shares of the company’s stock worth $20,921,000 after purchasing an additional 344,149 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in ChampionX by 4.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,399 shares of the company’s stock worth $609,000 after buying an additional 872 shares during the period. Jefferies Financial Group Inc. acquired a new stake in ChampionX in the 4th quarter worth about $549,000. Parr Mcknight Wealth Management Group LLC acquired a new stake in ChampionX in the 4th quarter worth about $308,000. Finally, GTS Securities LLC purchased a new stake in ChampionX in the 4th quarter valued at about $291,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

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.