Kapitalo Investimentos Ltda Invests $2.07 Million in ChampionX Co. (NASDAQ:CHX)

Kapitalo Investimentos Ltda acquired a new stake in ChampionX Co. (NASDAQ:CHX - Free Report) in the third quarter, according to its most recent filing with the SEC. The fund acquired 68,655 shares of the company's stock, valued at approximately $2,070,000. ChampionX makes up 0.5% of Kapitalo Investimentos Ltda's holdings, making the stock its 25th largest holding.

Other hedge funds have also bought and sold shares of the company. Creative Planning boosted its holdings in ChampionX by 2.1% in the 3rd quarter. Creative Planning now owns 146,507 shares of the company's stock valued at $4,417,000 after purchasing an additional 3,025 shares during the period. UMB Bank n.a. boosted its holdings in ChampionX by 63.7% in the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company's stock valued at $68,000 after purchasing an additional 882 shares during the period. Kesler Norman & Wride LLC bought a new position in ChampionX in the 3rd quarter valued at $493,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in ChampionX in the 2nd quarter valued at $8,302,000. Finally, Sanctuary Advisors LLC bought a new position in ChampionX in the 2nd quarter valued at $650,000. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their price target on shares of ChampionX from $40.00 to $33.00 and set a "neutral" rating for the company in a report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.00.

ChampionX Price Performance

NASDAQ CHX traded up $0.52 during trading hours on Wednesday, reaching $31.15. 968,568 shares of the stock traded hands, compared to its average volume of 1,863,704. The stock has a 50 day simple moving average of $30.72 and a two-hundred day simple moving average of $32.72. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.99 and a quick ratio of 1.25. The company has a market cap of $5.93 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 1.27 and a beta of 2.37.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.11). ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The firm had revenue of $893.30 million for the quarter, compared to analysts' expectations of $954.91 million. During the same quarter in the previous year, the business earned $0.48 EPS. The company's revenue for the quarter was down 3.6% on a year-over-year basis. On average, analysts predict that ChampionX Co. will post 1.99 EPS for the current fiscal year.

ChampionX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a $0.095 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.22%. 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.