ChampionX Co. (NASDAQ:CHX) Shares Sold by Narwhal Capital Management

Narwhal Capital Management reduced its stake in ChampionX Co. (NASDAQ:CHX - Free Report) by 30.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,231 shares of the company's stock after selling 59,907 shares during the period. Narwhal Capital Management owned 0.07% of ChampionX worth $3,731,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Millennium Management LLC lifted its holdings in shares of ChampionX by 12,607.0% during the second quarter. Millennium Management LLC now owns 3,120,847 shares of the company's stock worth $103,643,000 after purchasing an additional 3,096,287 shares during the period. Westchester Capital Management LLC raised its stake in shares of ChampionX by 67.8% during the 3rd quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company's stock worth $85,268,000 after buying an additional 1,142,628 shares during the period. Water Island Capital LLC purchased a new position in ChampionX during the second quarter valued at $35,384,000. Oddo BHF Asset Management Sas purchased a new stake in shares of ChampionX during the third quarter worth about $15,075,000. Finally, Alpine Associates Management Inc. boosted its holdings in ChampionX by 103.9% in the 3rd quarter. Alpine Associates Management Inc. now owns 723,516 shares of the company's stock worth $21,814,000 after buying an additional 368,616 shares during the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, insider Deric D. Bryant sold 49,303 shares of the 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.38% of the company's stock.

ChampionX Stock Up 0.6 %

ChampionX stock traded up $0.19 during mid-day trading on Monday, reaching $30.24. 2,206,744 shares of the company's stock were exchanged, compared to its average volume of 3,080,596. ChampionX Co. has a twelve month low of $25.57 and a twelve month high of $39.95. The company has a fifty day moving average of $28.84 and a 200-day moving average of $30.30. 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 company has a market cap of $5.76 billion, a P/E ratio of 18.78 and a beta of 2.36.

ChampionX Announces Dividend

The company also recently declared 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 yield of 1.26%. ChampionX's dividend payout ratio is currently 23.60%.

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.