ChampionX Co. (NASDAQ:CHX) Position Trimmed by Franklin Resources Inc.

Franklin Resources Inc. decreased its stake in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 41.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 416,350 shares of the company's stock after selling 289,524 shares during the period. Franklin Resources Inc. owned 0.22% of ChampionX worth $13,282,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Legend Financial Advisors Inc. grew its stake in ChampionX by 1.6% during the second quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company's stock worth $713,000 after buying an additional 340 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of ChampionX by 2.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 21,126 shares of the company's stock valued at $637,000 after acquiring an additional 487 shares in the last quarter. HighTower Advisors LLC boosted its position in ChampionX by 4.3% during the 3rd 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. Coldstream Capital Management Inc. raised its position in ChampionX by 6.6% in the third quarter. Coldstream Capital Management Inc. now owns 9,625 shares of the company's stock valued at $290,000 after purchasing an additional 594 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of ChampionX by 1.4% during the third quarter. PNC Financial Services Group Inc. now owns 54,454 shares of the company's stock worth $1,642,000 after purchasing an additional 772 shares in the last quarter. 98.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

ChampionX Stock Down 0.5 %

Shares of CHX stock traded down $0.14 on Friday, hitting $25.79. The stock had a trading volume of 4,690,671 shares, compared to its average volume of 1,852,337. The stock's 50 day moving average is $29.75 and its 200-day moving average is $30.99. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 16.02 and a beta of 2.38. ChampionX Co. has a 52-week low of $25.46 and a 52-week high of $39.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94.

ChampionX (NASDAQ:CHX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The firm had revenue of $906.53 million during the quarter, compared to analysts' expectations of $916.50 million. During the same period in the previous year, the company earned $0.41 earnings per share. The business's quarterly revenue was down 3.5% on a year-over-year basis. As a group, research analysts expect that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX's payout ratio is 23.60%.

Insider Activity

In related news, insider Deric D. Bryant sold 49,303 shares of ChampionX stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total value of $1,482,048.18. Following the completion of the transaction, the insider now directly owns 337,409 shares in the company, valued at approximately $10,142,514.54. This trade represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.38% of the company's stock.

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.