Callan Family Office LLC Makes New Investment in ChampionX Co. (NASDAQ:CHX)

Callan Family Office LLC bought a new position in ChampionX Co. (NASDAQ:CHX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 14,612 shares of the company's stock, valued at approximately $397,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of ChampionX by 1.7% during the 3rd quarter. State Street Corp now owns 7,422,097 shares of the company's stock worth $223,776,000 after acquiring an additional 122,622 shares in the last quarter. Geode Capital Management LLC grew its holdings in ChampionX by 1.4% during the third quarter. Geode Capital Management LLC now owns 4,617,387 shares of the company's stock valued at $139,239,000 after purchasing an additional 63,119 shares during the last quarter. Westchester Capital Management LLC raised its position in shares of ChampionX by 67.8% in the third quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company's stock valued at $85,268,000 after purchasing an additional 1,142,628 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of ChampionX by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,679,414 shares of the company's stock worth $72,853,000 after buying an additional 56,283 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of ChampionX by 0.3% during the 4th quarter. Van ECK Associates Corp now owns 2,639,352 shares of the company's stock worth $71,764,000 after buying an additional 9,056 shares during the period. 98.99% of the stock is owned by hedge funds and other institutional investors.

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ChampionX Stock Performance

NASDAQ CHX traded down $0.14 during trading on Thursday, hitting $28.49. The company's stock had a trading volume of 3,357,938 shares, compared to its average volume of 3,131,685. ChampionX Co. has a 52 week low of $25.57 and a 52 week high of $39.95. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The firm has a market cap of $5.44 billion, a P/E ratio of 17.27 and a beta of 2.28. The firm has a 50 day moving average price of $29.08 and a 200 day moving average price of $29.53.

ChampionX (NASDAQ:CHX - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. 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. Shareholders of record on Friday, April 4th will be issued a $0.095 dividend. The ex-dividend date is Friday, April 4th. This represents a $0.38 annualized dividend and a yield of 1.33%. ChampionX's dividend payout ratio (DPR) is 23.03%.

Wall Street Analysts Forecast Growth

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

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.