Entropy Technologies LP Has $1.45 Million Stake in ChampionX Co. (NASDAQ:CHX)

Entropy Technologies LP lifted its position in ChampionX Co. (NASDAQ:CHX - Free Report) by 131.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,233 shares of the company's stock after buying an additional 30,246 shares during the period. Entropy Technologies LP's holdings in ChampionX were worth $1,447,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CHX. State Street Corp raised its position in shares of ChampionX by 1.7% during the third quarter. State Street Corp now owns 7,422,097 shares of the company's stock worth $223,776,000 after purchasing an additional 122,622 shares during the period. Geode Capital Management LLC raised its position in shares of ChampionX by 1.4% during the third quarter. Geode Capital Management LLC now owns 4,617,387 shares of the company's stock worth $139,239,000 after purchasing an additional 63,119 shares during the period. Westchester Capital Management LLC raised its position in shares of ChampionX by 67.8% during the third quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company's stock worth $85,268,000 after purchasing an additional 1,142,628 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of ChampionX by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,623,131 shares of the company's stock worth $79,087,000 after purchasing an additional 84,875 shares during the period. Finally, Calamos Advisors LLC raised its position in ChampionX by 470.4% during the fourth quarter. Calamos Advisors LLC now owns 1,494,500 shares of the company's stock valued at $40,635,000 after buying an additional 1,232,500 shares during the period. Institutional investors own 98.99% of the company's stock.

ChampionX Stock Up 2.0 %

ChampionX stock traded up $0.58 during mid-day trading on Thursday, hitting $29.74. The company's stock had a trading volume of 1,955,937 shares, compared to its average volume of 3,059,477. The firm's 50 day moving average is $28.41 and its 200 day moving average is $29.87. The company has a market cap of $5.67 billion, a PE ratio of 18.02 and a beta of 2.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.20. 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 data on Tuesday, February 4th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. On average, analysts anticipate that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 3rd were given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Friday, January 3rd. ChampionX's payout ratio is currently 23.03%.

Analyst Ratings Changes

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

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.