Bank of New York Mellon Corp Cuts Stock Position in ChampionX Co. (NASDAQ:CHX)

Bank of New York Mellon Corp lessened its position in ChampionX Co. (NASDAQ:CHX - Free Report) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,862,787 shares of the company's stock after selling 147,253 shares during the quarter. Bank of New York Mellon Corp owned 0.98% of ChampionX worth $50,649,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CHX. Venturi Wealth Management LLC lifted its holdings in shares of ChampionX by 1,051.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company's stock worth $51,000 after acquiring an additional 1,725 shares during the last quarter. R Squared Ltd bought a new stake in shares of ChampionX in the 4th quarter worth about $103,000. KBC Group NV lifted its holdings in ChampionX by 18.3% during the 3rd quarter. KBC Group NV now owns 5,827 shares of the company's stock valued at $176,000 after buying an additional 903 shares in the last quarter. Ieq Capital LLC bought a new stake in ChampionX during the 4th quarter valued at about $228,000. Finally, Quantinno Capital Management LP bought a new stake in ChampionX during the 3rd quarter valued at about $265,000. Institutional investors own 98.99% of the company's stock.

ChampionX Stock Performance

NASDAQ:CHX traded up $1.14 during trading hours on Friday, hitting $29.66. 2,870,377 shares of the company were exchanged, compared to its average volume of 3,139,890. 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 Co. has a 52-week low of $25.57 and a 52-week high of $39.95. The company's 50 day moving average price is $28.97 and its 200-day moving average price is $29.58. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 17.98 and a beta of 2.28.

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ChampionX (NASDAQ:CHX - Get Free Report) last announced its quarterly earnings data 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%. As a group, research analysts forecast that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Dividend Announcement

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

Wall Street Analyst Weigh In

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