Franklin Resources Inc. Decreases Stock Position in ChampionX Co. (NASDAQ:CHX)

Franklin Resources Inc. trimmed its position in ChampionX Co. (NASDAQ:CHX - Free Report) by 61.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,047 shares of the company's stock after selling 256,303 shares during the quarter. Franklin Resources Inc. owned approximately 0.08% of ChampionX worth $4,352,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. HighTower Advisors LLC grew 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 buying an additional 564 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of ChampionX in the third quarter worth approximately $265,000. Stifel Financial Corp increased 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 worth $4,636,000 after purchasing an additional 5,833 shares during the last quarter. State Street Corp lifted its position in ChampionX by 1.7% during the third quarter. State Street Corp now owns 7,422,097 shares of the company's stock valued at $223,776,000 after purchasing an additional 122,622 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in ChampionX by 1.2% in the 3rd quarter. Wellington Management Group LLP now owns 425,287 shares of the company's stock worth $12,822,000 after buying an additional 4,844 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors.

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ChampionX Price Performance

Shares of ChampionX stock traded down $0.15 on Tuesday, hitting $24.33. 1,421,467 shares of the company traded hands, compared to its average volume of 2,512,715. ChampionX Co. has a 12-month low of $21.92 and a 12-month high of $37.83. 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 $4.64 billion, a P/E ratio of 14.75 and a beta of 1.81. The firm's 50-day simple moving average is $28.39 and its 200 day simple moving average is $29.10.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share for the quarter, beating 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%. Analysts expect that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.56%. ChampionX's payout ratio is 23.03%.

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.