JPMorgan Chase & Co. Sells 60,051 Shares of ChampionX Co. (NASDAQ:CHX)

JPMorgan Chase & Co. reduced its stake in ChampionX Co. (NASDAQ:CHX - Free Report) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,786,303 shares of the company's stock after selling 60,051 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.94% of ChampionX worth $53,857,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake in shares of ChampionX by 442.4% in the third quarter. Blue Trust Inc. now owns 1,329 shares of the company's stock worth $44,000 after buying an additional 1,084 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in ChampionX during the 2nd quarter worth $68,000. UMB Bank n.a. boosted its holdings in ChampionX by 63.7% during the third quarter. UMB Bank n.a. now owns 2,266 shares of the company's stock valued at $68,000 after acquiring an additional 882 shares during the period. KBC Group NV grew its position 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 purchasing an additional 903 shares during the last quarter. Finally, Meeder Advisory Services Inc. increased its stake in shares of ChampionX by 16.4% in the second quarter. Meeder Advisory Services Inc. now owns 6,531 shares of the company's stock worth $217,000 after purchasing an additional 918 shares during the period. Institutional investors and hedge funds own 98.99% of the company's stock.

ChampionX Stock Performance

ChampionX stock traded up $0.05 during mid-day trading on Friday, reaching $27.35. The company had a trading volume of 1,283,579 shares, compared to its average volume of 1,562,990. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.33. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 16.99 and a beta of 2.38. The company has a 50 day moving average of $29.08 and a 200-day moving average of $30.69. ChampionX Co. has a 52 week low of $25.46 and a 52 week high of $39.95.

ChampionX (NASDAQ:CHX - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share 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 firm's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share. On average, sell-side analysts expect that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be paid a $0.095 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.39%. ChampionX's payout ratio is 23.60%.

Analyst Ratings Changes

Separately, Citigroup decreased their target price on ChampionX from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, November 14th.

Insider Buying and Selling

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the completion of the transaction, the insider now owns 337,409 shares in the company, valued at $10,142,514.54. This trade represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.38% of the stock is owned by company insiders.

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.