Narwhal Capital Management Has $5.94 Million Stake in ChampionX Co. (NASDAQ:CHX)

Narwhal Capital Management raised its holdings in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 17.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,138 shares of the company's stock after purchasing an additional 29,966 shares during the quarter. Narwhal Capital Management owned approximately 0.10% of ChampionX worth $5,944,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. grew its position in shares of ChampionX by 1.6% in the second quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company's stock valued at $713,000 after purchasing an additional 340 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in ChampionX in the 1st quarter valued at $27,000. UMB Bank n.a. increased its position in ChampionX by 63.7% during the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company's stock worth $68,000 after buying an additional 882 shares during the period. Meeder Advisory Services Inc. lifted its holdings in shares of ChampionX by 16.4% during the second quarter. Meeder Advisory Services Inc. now owns 6,531 shares of the company's stock worth $217,000 after buying an additional 918 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its position in shares of ChampionX by 18.9% in the first quarter. EntryPoint Capital LLC now owns 5,817 shares of the company's stock valued at $209,000 after acquiring an additional 923 shares during the period. 98.99% of the stock is owned by institutional investors.

ChampionX Price Performance

Shares of NASDAQ:CHX traded up $0.08 during trading on Wednesday, reaching $29.65. 1,264,559 shares of the company traded hands, compared to its average volume of 1,873,088. The firm has a market capitalization of $5.65 billion, a PE ratio of 16.00, a PEG ratio of 1.27 and a beta of 2.37. ChampionX Co. has a 52 week low of $25.46 and a 52 week high of $39.95. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.34. The company's 50 day moving average is $30.66 and its two-hundred day moving average is $32.45.

ChampionX (NASDAQ:CHX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.11). The firm had revenue of $893.30 million for the quarter, compared to the consensus estimate of $954.91 million. ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. As a group, sell-side analysts predict that ChampionX Co. will post 1.99 earnings per share for the current year.

ChampionX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a dividend of $0.095 per share. The ex-dividend date is Friday, October 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.28%. ChampionX's dividend payout ratio is 20.65%.

Analyst Ratings Changes

Separately, Piper Sandler dropped their price objective on shares of ChampionX from $40.00 to $33.00 and set a "neutral" rating for the company in a research note on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $39.00.

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.