Aigen Investment Management LP Grows Stake in ChampionX Co. (NASDAQ:CHX)

Aigen Investment Management LP raised its stake in ChampionX Co. (NASDAQ:CHX - Free Report) by 467.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 40,057 shares of the company's stock after purchasing an additional 32,992 shares during the quarter. Aigen Investment Management LP's holdings in ChampionX were worth $1,089,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pacer Advisors Inc. lifted its position in ChampionX by 1.9% in the fourth quarter. Pacer Advisors Inc. now owns 28,394 shares of the company's stock valued at $772,000 after purchasing an additional 532 shares during the last quarter. Jones Financial Companies Lllp lifted its position in ChampionX by 153.2% in the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock valued at $25,000 after purchasing an additional 559 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of ChampionX by 4.3% during the third quarter. HighTower Advisors LLC now owns 13,621 shares of the company's stock valued at $405,000 after acquiring an additional 564 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of ChampionX by 6.6% during the third quarter. Coldstream Capital Management Inc. now owns 9,625 shares of the company's stock valued at $290,000 after acquiring an additional 594 shares in the last quarter. Finally, Hudson Edge Investment Partners Inc. raised its holdings in shares of ChampionX by 4.8% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 15,150 shares of the company's stock valued at $412,000 after acquiring an additional 700 shares in the last quarter. Institutional investors own 98.99% of the company's stock.

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Wall Street Analyst Weigh In

Separately, Citigroup decreased their target price on ChampionX from $45.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, November 14th.

ChampionX Stock Up 4.0 %

CHX stock traded up $1.14 during midday trading on Friday, hitting $29.66. The stock had a trading volume of 2,870,377 shares, compared to its average volume of 3,139,890. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 17.98 and a beta of 2.28. The business has a 50-day moving average of $28.97 and a two-hundred day moving average of $29.58. ChampionX Co. has a 52-week low of $25.57 and a 52-week high of $39.95. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36.

ChampionX (NASDAQ:CHX - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share 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%. As a group, equities research analysts forecast that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.38 annualized dividend and a yield of 1.28%. ChampionX's payout ratio is 23.03%.

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.