Oppenheimer Asset Management Inc. Sells 12,237 Shares of ChampionX Co. (NASDAQ:CHX)

Oppenheimer Asset Management Inc. lowered its stake in ChampionX Co. (NASDAQ:CHX - Free Report) by 28.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,471 shares of the company's stock after selling 12,237 shares during the period. Oppenheimer Asset Management Inc.'s holdings in ChampionX were worth $829,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHX. Wealth Enhancement Advisory Services LLC boosted its position in shares of ChampionX by 13.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 21,527 shares of the company's stock valued at $649,000 after buying an additional 2,485 shares during the period. State of Alaska Department of Revenue boosted its position in shares of ChampionX by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 22,238 shares of the company's stock valued at $670,000 after buying an additional 1,500 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of ChampionX by 2.4% during the third quarter. Nisa Investment Advisors LLC now owns 21,126 shares of the company's stock valued at $637,000 after buying an additional 487 shares during the period. Leeward Investments LLC MA boosted its position in shares of ChampionX by 19.1% during the third quarter. Leeward Investments LLC MA now owns 1,067,589 shares of the company's stock valued at $32,188,000 after buying an additional 171,097 shares during the period. Finally, Assetmark Inc. boosted its position in shares of ChampionX by 8.9% during the third quarter. Assetmark Inc. now owns 49,748 shares of the company's stock valued at $1,500,000 after buying an additional 4,058 shares during the period. Hedge funds and other institutional investors own 98.99% of the company's stock.

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Wall Street Analyst Weigh In

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

ChampionX Trading Up 4.0 %

Shares of NASDAQ CHX traded up $1.14 during trading hours on Friday, reaching $29.66. The stock had a trading volume of 2,870,377 shares, compared to its average volume of 3,139,890. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 17.98 and a beta of 2.28. The business's fifty day moving average price is $28.91 and its two-hundred day moving average price is $29.61. ChampionX Co. has a 52-week low of $25.57 and a 52-week high of $39.95.

ChampionX (NASDAQ:CHX - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. Analysts expect that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.28%. ChampionX's payout ratio is 23.03%.

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.