Congress Asset Management Co. Has $9.23 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Congress Asset Management Co. trimmed its holdings in ChampionX Co. (NASDAQ:CHX - Free Report) by 22.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 305,956 shares of the company's stock after selling 87,926 shares during the period. Congress Asset Management Co. owned 0.16% of ChampionX worth $9,225,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Legend Financial Advisors Inc. boosted its position in ChampionX by 1.6% during the second quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company's stock worth $713,000 after purchasing an additional 340 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of ChampionX by 2.4% in the third quarter. Nisa Investment Advisors LLC now owns 21,126 shares of the company's stock worth $637,000 after buying an additional 487 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of ChampionX during the 1st quarter worth $27,000. UMB Bank n.a. grew its stake 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 buying an additional 882 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its holdings in ChampionX by 16.4% in the 2nd quarter. Meeder Advisory Services Inc. now owns 6,531 shares of the company's stock worth $217,000 after acquiring an additional 918 shares during the period. Institutional investors and hedge funds own 98.99% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lowered their price target on ChampionX from $40.00 to $33.00 and set a "neutral" rating on the stock in a research report on Monday, July 15th.

ChampionX Stock Performance

NASDAQ:CHX traded down $0.27 during trading hours on Friday, hitting $27.95. 2,273,447 shares of the company traded hands, compared to its average volume of 1,864,349. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of 17.36 and a beta of 2.37. The firm has a 50-day moving average of $30.21 and a 200 day moving average of $32.01. ChampionX Co. has a twelve month low of $25.46 and a twelve month high of $39.95.

ChampionX (NASDAQ:CHX - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The company had revenue of $906.53 million during the quarter, compared to the consensus estimate of $916.50 million. During the same quarter in the previous year, the business posted $0.41 EPS. The firm's quarterly revenue was down 3.5% on a year-over-year basis. On average, analysts forecast that ChampionX Co. will post 1.66 EPS for the current year.

ChampionX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, October 4th. ChampionX's dividend payout ratio is presently 23.60%.

ChampionX 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.