Ieq Capital LLC Takes Position in ChampionX Co. (NASDAQ:CHX)

Ieq Capital LLC bought a new position in ChampionX Co. (NASDAQ:CHX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,401 shares of the company's stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CHX. Nisa Investment Advisors LLC grew its stake in shares of ChampionX by 2.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 21,126 shares of the company's stock valued at $637,000 after buying an additional 487 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of ChampionX by 1.9% in the fourth quarter. Pacer Advisors Inc. now owns 28,394 shares of the company's stock worth $772,000 after buying an additional 532 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of 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 buying an additional 564 shares during the period. Coldstream Capital Management Inc. grew its position in shares of 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 last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of ChampionX by 1.4% in 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 during the period. Hedge funds and other institutional investors own 98.99% of the company's stock.

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Analyst Ratings Changes

Separately, Citigroup decreased 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 Performance

ChampionX stock traded down $0.15 during mid-day trading on Tuesday, reaching $28.29. The company had a trading volume of 1,588,492 shares, compared to its average volume of 3,100,251. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 17.11 and a beta of 2.35. The company has a 50 day moving average of $28.81 and a 200-day moving average of $29.65. 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 released its earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. On average, sell-side analysts expect that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX's dividend payout ratio is presently 23.03%.

ChampionX Company 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.