Wellington Management Group LLP Makes New $6.88 Million Investment in ChampionX Co. (NASDAQ:CHX)

Wellington Management Group LLP acquired a new stake in ChampionX Co. (NASDAQ:CHX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 235,566 shares of the company's stock, valued at approximately $6,881,000. Wellington Management Group LLP owned 0.12% of ChampionX as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. United Services Automobile Association grew its holdings in ChampionX by 4.1% during the third quarter. United Services Automobile Association now owns 13,913 shares of the company's stock worth $496,000 after acquiring an additional 547 shares during the period. Quadrant Capital Group LLC lifted its position in ChampionX by 37.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company's stock worth $89,000 after buying an additional 831 shares during the period. Benjamin Edwards Inc. raised its holdings in shares of ChampionX by 14.6% in the 4th quarter. Benjamin Edwards Inc. now owns 7,298 shares of the company's stock worth $213,000 after purchasing an additional 927 shares during the period. GAMMA Investing LLC purchased a new position in shares of ChampionX in the 4th quarter worth about $26,000. Finally, Advisory Services Network LLC grew its stake in shares of ChampionX by 12.4% in the fourth quarter. Advisory Services Network LLC now owns 10,885 shares of the company's stock valued at $318,000 after buying an additional 1,201 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company's stock.

ChampionX Stock Performance

CHX traded up $0.10 on Friday, hitting $33.21. 3,008,022 shares of the stock traded hands, compared to its average volume of 2,227,088. ChampionX Co. has a 52 week low of $25.46 and a 52 week high of $39.95. The firm has a market capitalization of $6.32 billion, a PE ratio of 18.05, a P/E/G ratio of 1.37 and a beta of 2.39. The business has a fifty day moving average price of $32.96 and a two-hundred day moving average price of $31.84. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.10. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. The business had revenue of $922.14 million for the quarter, compared to analyst estimates of $922.13 million. On average, research analysts predict that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Friday, July 5th. ChampionX's dividend payout ratio (DPR) is currently 20.65%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Piper Sandler raised their price objective on ChampionX from $32.00 to $40.00 and gave the company a "neutral" rating in a research note on Monday, April 8th. Barclays lifted their target price on ChampionX from $39.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, April 4th. Finally, Citigroup lifted their target price on ChampionX from $39.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ChampionX presently has an average rating of "Moderate Buy" and a consensus target price of $40.33.

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.