Healthcare of Ontario Pension Plan Trust Fund Increases Stock Position in ChampionX Co. (NASDAQ:CHX)

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in ChampionX Co. (NASDAQ:CHX - Free Report) by 18.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 295,105 shares of the company's stock after acquiring an additional 45,105 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.15% of ChampionX worth $8,897,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Tidal Investments LLC increased its stake in shares of ChampionX by 34.2% during the first quarter. Tidal Investments LLC now owns 22,988 shares of the company's stock worth $825,000 after buying an additional 5,857 shares during the period. Cetera Advisors LLC acquired a new stake in shares of ChampionX in the 1st quarter valued at $488,000. Harbor Capital Advisors Inc. lifted its position in shares of ChampionX by 505.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 61,378 shares of the company's stock worth $2,038,000 after purchasing an additional 51,236 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of ChampionX by 2,808.1% during the 2nd quarter. SG Americas Securities LLC now owns 278,047 shares of the company's stock worth $9,234,000 after purchasing an additional 268,486 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of ChampionX by 41.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 19,042 shares of the company's stock worth $632,000 after purchasing an additional 5,542 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company's stock.

ChampionX Stock Up 0.8 %

CHX stock traded up $0.25 during midday trading on Friday, reaching $30.95. 827,241 shares of the company were exchanged, compared to its average volume of 1,842,743. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 19.22 and a beta of 2.38. 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 Co. has a 1-year low of $25.46 and a 1-year high of $39.95. The stock's 50-day simple moving average is $30.54 and its 200 day simple moving average is $31.46.

ChampionX (NASDAQ:CHX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The company had revenue of $906.53 million for the quarter, compared to analyst estimates of $916.50 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. ChampionX's revenue was down 3.5% compared to the same quarter last year. On average, equities analysts forecast that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX's payout ratio is currently 23.60%.

Insider Activity at ChampionX

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of ChampionX stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total value of $1,482,048.18. Following the transaction, the insider now directly owns 337,409 shares in the company, valued at approximately $10,142,514.54. The trade was a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.38% of the company's stock.

Analyst Upgrades and Downgrades

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