Shares of ChampionX Co. (NASDAQ:CHX - Get Free Report) saw unusually-strong trading volume on Wednesday following a dividend announcement from the company. Approximately 2,800,942 shares traded hands during trading, an increase of 17% from the previous session's volume of 2,395,404 shares.The stock last traded at $29.88 and had previously closed at $30.02.
The newly announced dividend which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX's dividend payout ratio is currently 23.03%.
ChampionX Trading Down 4.9 %
The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $4.42 billion, a P/E ratio of 13.97 and a beta of 1.81. The business has a fifty day moving average price of $29.24 and a 200 day moving average price of $29.46.
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, topping 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%. On average, analysts expect that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.
Hedge Funds Weigh In On ChampionX
A number of institutional investors have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. raised its stake in ChampionX by 31.9% in the third quarter. Benjamin Edwards Inc. now owns 16,975 shares of the company's stock valued at $512,000 after buying an additional 4,105 shares during the period. Holocene Advisors LP acquired a new stake in ChampionX during the 3rd quarter valued at $444,000. HighTower Advisors LLC boosted its position in ChampionX by 4.3% during the third quarter. HighTower Advisors LLC now owns 13,621 shares of the company's stock worth $405,000 after purchasing an additional 564 shares during the period. Quantinno Capital Management LP acquired a new position in shares of ChampionX in the third quarter valued at $265,000. Finally, Stifel Financial Corp raised its position in shares of ChampionX by 3.9% in the third quarter. Stifel Financial Corp now owns 153,756 shares of the company's stock valued at $4,636,000 after purchasing an additional 5,833 shares during the period. 98.99% of the stock is currently owned by institutional investors and hedge funds.
About ChampionX
(
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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.
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