Fisher Asset Management LLC Sells 60,810 Shares of ChampionX Co. (NASDAQ:CHX)

Fisher Asset Management LLC reduced its holdings in ChampionX Co. (NASDAQ:CHX - Free Report) by 17.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 287,070 shares of the company's stock after selling 60,810 shares during the quarter. Fisher Asset Management LLC owned about 0.15% of ChampionX worth $7,805,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHX. Calamos Advisors LLC grew its position in shares of ChampionX by 470.4% in the fourth 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 last quarter. Westchester Capital Management LLC grew its position in shares of ChampionX by 67.8% in the third quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company's stock valued at $85,268,000 after purchasing an additional 1,142,628 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of ChampionX in the third quarter valued at about $15,075,000. Alpine Associates Management Inc. grew its position in ChampionX by 103.9% during the third quarter. Alpine Associates Management Inc. now owns 723,516 shares of the company's stock worth $21,814,000 after buying an additional 368,616 shares in the last quarter. Finally, Barclays PLC grew its position in ChampionX by 147.2% during the third quarter. Barclays PLC now owns 357,081 shares of the company's stock worth $10,766,000 after buying an additional 212,654 shares in the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

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ChampionX Stock Performance

CHX stock traded up $1.14 during trading on Friday, reaching $29.66. 2,870,377 shares of the stock were exchanged, compared to its average volume of 3,139,890. ChampionX Co. has a twelve month low of $25.57 and a twelve month high of $39.95. The company has a market capitalization of $5.66 billion, a P/E ratio of 17.98 and a beta of 2.28. The stock has a 50 day simple moving average of $28.91 and a 200-day simple moving average of $29.61. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32.

ChampionX (NASDAQ:CHX - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share for the quarter, topping 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%. As a group, sell-side analysts anticipate that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, Citigroup decreased their target price on ChampionX from $45.00 to $40.00 and set a "buy" rating on the stock 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.