Van ECK Associates Corp Reduces Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Van ECK Associates Corp reduced its stake in ChampionX Co. (NASDAQ:CHX - Free Report) by 6.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,630,296 shares of the company's stock after selling 173,422 shares during the quarter. Van ECK Associates Corp owned about 1.38% of ChampionX worth $77,988,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of ChampionX during the first quarter worth $27,000. Blue Trust Inc. boosted its stake in shares of ChampionX by 442.4% in the third quarter. Blue Trust Inc. now owns 1,329 shares of the company's stock worth $44,000 after buying an additional 1,084 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in ChampionX during the second quarter worth about $68,000. UMB Bank n.a. raised its position in ChampionX by 63.7% during the third quarter. UMB Bank n.a. now owns 2,266 shares of the company's stock valued at $68,000 after acquiring an additional 882 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in ChampionX in the first quarter valued at approximately $136,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

ChampionX Price Performance

NASDAQ:CHX traded up $0.48 during trading hours on Monday, reaching $28.43. 1,765,446 shares of the company were exchanged, compared to its average volume of 1,863,885. 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 firm has a market cap of $5.42 billion, a PE ratio of 17.66 and a beta of 2.38. ChampionX Co. has a twelve month low of $25.46 and a twelve month high of $39.95. The stock's 50-day moving average is $30.14 and its 200-day moving average is $31.89.

ChampionX (NASDAQ:CHX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $916.50 million. During the same period in the prior year, the business posted $0.41 earnings per share. The company's quarterly revenue was down 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that ChampionX Co. will post 1.66 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were issued a $0.095 dividend. The ex-dividend date was Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.34%. ChampionX's payout ratio is currently 23.60%.

ChampionX Company 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.