Congress Asset Management Co. MA Has $143.24 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Congress Asset Management Co. MA boosted its stake in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,991,117 shares of the company's stock after purchasing an additional 80,626 shares during the period. ChampionX comprises 1.0% of Congress Asset Management Co. MA's portfolio, making the stock its 28th largest holding. Congress Asset Management Co. MA owned about 2.09% of ChampionX worth $143,241,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its holdings in ChampionX by 321.8% during the third quarter. HighTower Advisors LLC now owns 45,014 shares of the company's stock valued at $1,592,000 after buying an additional 34,343 shares during the last quarter. Deutsche Bank AG increased its holdings in ChampionX by 7.3% during the third quarter. Deutsche Bank AG now owns 118,134 shares of the company's stock valued at $4,208,000 after buying an additional 8,009 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in ChampionX during the third quarter valued at approximately $272,000. Prudential PLC purchased a new stake in ChampionX during the third quarter valued at approximately $788,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in ChampionX during the third quarter valued at approximately $1,539,000. Institutional investors own 98.99% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on CHX. Citigroup boosted their price target on ChampionX from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, March 27th. Piper Sandler increased their price objective on shares of ChampionX from $32.00 to $40.00 and gave the company a "neutral" rating in a research note on Monday, April 8th. Finally, Barclays raised their target price on shares of ChampionX from $39.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, ChampionX has an average rating of "Moderate Buy" and a consensus price target of $40.33.

Insider Transactions at ChampionX

In other news, insider William Jr. O'dell sold 27,178 shares of the business's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $36.00, for a total transaction of $978,408.00. Following the completion of the sale, the insider now owns 57,748 shares of the company's stock, valued at $2,078,928. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.38% of the company's stock.

ChampionX Stock Performance

CHX traded up $0.07 on Friday, reaching $32.01. The stock had a trading volume of 5,478,836 shares, compared to its average volume of 1,826,362. ChampionX Co. has a 12-month low of $25.46 and a 12-month high of $39.95. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The business's 50-day moving average price is $33.28 and its two-hundred day moving average price is $31.67. The company has a market cap of $6.10 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.32 and a beta of 2.39.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.10. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. The company had revenue of $922.14 million during the quarter, compared to analysts' expectations of $922.13 million. Sell-side analysts forecast that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.19%. ChampionX's dividend payout ratio is currently 20.65%.

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.