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 - Free Report) 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.

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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 - Get Free Report) 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.

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