Cerity Partners LLC Raises Stock Position in ChampionX Co. (NASDAQ:CHX)

Cerity Partners LLC boosted its position in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 291.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,038 shares of the company's stock after buying an additional 113,232 shares during the period. Cerity Partners LLC owned 0.08% of ChampionX worth $4,584,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of ChampionX by 442.4% in the 3rd quarter. Blue Trust Inc. now owns 1,329 shares of the company's stock valued at $44,000 after acquiring an additional 1,084 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in ChampionX during the 2nd quarter worth $68,000. UMB Bank n.a. increased its stake in ChampionX by 63.7% in the third quarter. UMB Bank n.a. now owns 2,266 shares of the company's stock valued at $68,000 after purchasing an additional 882 shares during the period. KBC Group NV raised its holdings in shares of ChampionX by 18.3% in the third quarter. KBC Group NV now owns 5,827 shares of the company's stock valued at $176,000 after buying an additional 903 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of ChampionX during the second quarter worth about $194,000. Hedge funds and other institutional investors own 98.99% of the company's stock.

ChampionX Stock Performance

CHX traded up $0.25 during trading on Friday, hitting $30.95. The stock had a trading volume of 827,240 shares, compared to its average volume of 1,842,743. The firm has a market capitalization of $5.90 billion, a P/E ratio of 19.22 and a beta of 2.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. ChampionX Co. has a twelve month low of $25.46 and a twelve month high of $39.95. The company's 50-day moving average price is $30.53 and its 200 day moving average price is $31.49.

ChampionX (NASDAQ:CHX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). The firm had revenue of $906.53 million for the quarter, compared to analyst estimates of $916.50 million. ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The company's revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 earnings per share. On average, equities research analysts forecast that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be issued a $0.095 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.38 annualized dividend and a dividend yield of 1.23%. ChampionX's dividend payout ratio is currently 23.60%.

Insider Activity at ChampionX

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total value of $1,482,048.18. Following the completion of the transaction, the insider now owns 337,409 shares in the company, valued at approximately $10,142,514.54. This represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.38% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup reduced their price objective on ChampionX from $45.00 to $40.00 and set a "buy" rating for the company in a research note 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.