ChampionX (NASDAQ:CHX) Sets New 1-Year Low - Here's Why

ChampionX Co. (NASDAQ:CHX - Get Free Report)'s share price hit a new 52-week low on Friday . The company traded as low as $25.50 and last traded at $25.42, with a volume of 355887 shares. The stock had previously closed at $27.55.

ChampionX Trading Up 12.6 %

The company's fifty day moving average is $28.83 and its 200-day moving average is $29.30. 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 capitalization of $4.84 billion, a P/E ratio of 15.36 and a beta of 1.81.

ChampionX (NASDAQ:CHX - Get Free Report) last released 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 net margin of 8.81% and a return on equity of 19.84%. As a group, sell-side analysts anticipate that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.50%. The ex-dividend date is Friday, April 4th. ChampionX's dividend payout ratio is currently 23.03%.

Institutional Investors Weigh In On ChampionX

Several hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp raised its stake in ChampionX by 153.2% during the 4th quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock valued at $25,000 after purchasing an additional 559 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of ChampionX by 1,051.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company's stock worth $51,000 after purchasing an additional 1,725 shares during the period. R Squared Ltd bought a new position in shares of ChampionX during the 4th quarter worth about $103,000. Parallel Advisors LLC raised its position in shares of ChampionX by 27.5% during the first quarter. Parallel Advisors LLC now owns 4,672 shares of the company's stock valued at $139,000 after buying an additional 1,007 shares during the last quarter. Finally, Vestcor Inc lifted its stake in shares of ChampionX by 71.6% in the fourth quarter. Vestcor Inc now owns 5,032 shares of the company's stock valued at $137,000 after buying an additional 2,100 shares during the period. 98.99% of the stock is owned by institutional investors.

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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.