Chevy Chase Trust Holdings LLC Decreases Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Chevy Chase Trust Holdings LLC decreased its stake in ChampionX Co. (NASDAQ:CHX - Free Report) by 53.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 362,222 shares of the company's stock after selling 408,468 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.19% of ChampionX worth $9,849,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CHX. Calamos Advisors LLC raised its position in shares of ChampionX by 470.4% during the 4th quarter. Calamos Advisors LLC now owns 1,494,500 shares of the company's stock valued at $40,635,000 after purchasing an additional 1,232,500 shares during the period. Westchester Capital Management LLC raised its holdings in ChampionX by 67.8% during the third quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company's stock valued at $85,268,000 after acquiring an additional 1,142,628 shares during the period. Oddo BHF Asset Management Sas bought a new stake in ChampionX during the third quarter valued at about $15,075,000. Alpine Associates Management Inc. raised its holdings in ChampionX by 103.9% during the third quarter. Alpine Associates Management Inc. now owns 723,516 shares of the company's stock valued at $21,814,000 after acquiring an additional 368,616 shares during the period. Finally, Barclays PLC lifted its position in shares of ChampionX by 147.2% in the third quarter. Barclays PLC now owns 357,081 shares of the company's stock valued at $10,766,000 after acquiring an additional 212,654 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company's stock.

ChampionX Price Performance

CHX traded down $0.38 during trading on Wednesday, hitting $29.96. 2,939,828 shares of the company traded hands, compared to its average volume of 3,049,620. 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 company has a market cap of $5.72 billion, a PE ratio of 18.16 and a beta of 2.35. The stock's 50-day simple moving average is $28.47 and its two-hundred day simple moving average is $29.75. ChampionX Co. has a 1 year low of $25.57 and a 1 year high of $39.95.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.50 EPS for the quarter, beating the consensus estimate 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 3rd were issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Friday, January 3rd. ChampionX's dividend payout ratio is presently 23.03%.

Analyst Upgrades and Downgrades

Separately, Citigroup cut 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 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.