Alpine Associates Management Inc. Grows Holdings in ChampionX Co. (NASDAQ:CHX)

Alpine Associates Management Inc. grew its position in ChampionX Co. (NASDAQ:CHX - Free Report) by 63.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,182,716 shares of the company's stock after buying an additional 459,200 shares during the quarter. ChampionX accounts for 2.0% of Alpine Associates Management Inc.'s holdings, making the stock its 13th largest holding. Alpine Associates Management Inc. owned approximately 0.62% of ChampionX worth $32,158,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Assetmark Inc. lifted its holdings in ChampionX by 8.9% during the 3rd quarter. Assetmark Inc. now owns 49,748 shares of the company's stock worth $1,500,000 after buying an additional 4,058 shares in the last quarter. Wolverine Asset Management LLC raised its stake in shares of ChampionX by 29.6% in the third quarter. Wolverine Asset Management LLC now owns 106,836 shares of the company's stock valued at $3,221,000 after acquiring an additional 24,392 shares in the last quarter. Versor Investments LP boosted its holdings in ChampionX by 87.3% in the third quarter. Versor Investments LP now owns 331,806 shares of the company's stock valued at $10,004,000 after purchasing an additional 154,678 shares during the period. GSA Capital Partners LLP grew its stake in ChampionX by 143.2% during the 3rd quarter. GSA Capital Partners LLP now owns 36,985 shares of the company's stock worth $1,115,000 after purchasing an additional 21,778 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in ChampionX by 19.0% during the 3rd quarter. Victory Capital Management Inc. now owns 58,478 shares of the company's stock worth $1,763,000 after purchasing an additional 9,333 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company's stock.

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ChampionX Stock Down 0.5 %

Shares of CHX traded down $0.14 during midday trading on Thursday, reaching $28.49. The stock had a trading volume of 3,357,938 shares, compared to its average volume of 3,131,722. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 17.27 and a beta of 2.28. The company's fifty day simple moving average is $29.08 and its two-hundred day simple moving average is $29.53. ChampionX Co. has a 1-year low of $25.57 and a 1-year 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 posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share for the quarter, beating 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%. 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. Investors of record on Friday, April 4th will be issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX's dividend payout ratio (DPR) is 23.03%.

Analyst Ratings Changes

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

ChampionX 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.