Birnam Oak Advisors LP Makes New $17.04 Million Investment in ChampionX Co. (NASDAQ:CHX)

Birnam Oak Advisors LP purchased a new stake in ChampionX Co. (NASDAQ:CHX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 626,588 shares of the company's stock, valued at approximately $17,037,000. ChampionX comprises about 8.3% of Birnam Oak Advisors LP's investment portfolio, making the stock its 5th biggest position. Birnam Oak Advisors LP owned about 0.33% of ChampionX at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Calamos Advisors LLC increased its holdings in ChampionX by 470.4% in the 4th quarter. Calamos Advisors LLC now owns 1,494,500 shares of the company's stock valued at $40,635,000 after purchasing an additional 1,232,500 shares during the last quarter. Westchester Capital Management LLC raised its holdings in shares of ChampionX by 67.8% in the 3rd quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company's stock valued at $85,268,000 after buying an additional 1,142,628 shares during the period. Oddo BHF Asset Management Sas acquired a new position in ChampionX during the 3rd quarter worth about $15,075,000. Alpine Associates Management Inc. boosted its holdings in ChampionX by 63.5% during the 4th quarter. Alpine Associates Management Inc. now owns 1,182,716 shares of the company's stock valued at $32,158,000 after acquiring an additional 459,200 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in ChampionX in the 4th quarter valued at about $12,080,000. Hedge funds and other institutional investors own 98.99% of the company's stock.

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ChampionX Stock Down 0.2 %

Shares of CHX traded down $0.06 during mid-day trading on Friday, hitting $29.54. 7,189,167 shares of the company's stock were exchanged, compared to its average volume of 2,146,850. 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 market cap of $5.64 billion, a price-to-earnings ratio of 17.90 and a beta of 2.28. The stock's 50-day moving average is $29.30 and its 200-day moving average is $29.45. ChampionX Co. has a fifty-two week low of $25.57 and a fifty-two week high of $39.95.

ChampionX (NASDAQ:CHX - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.50 earnings per share 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%. On average, sell-side analysts anticipate that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors 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 1.29%. ChampionX's payout ratio is 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.