Norges Bank Makes New Investment in ChampionX Co. (NASDAQ:CHX)

Norges Bank purchased a new position in shares of ChampionX Co. (NASDAQ:CHX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,722,769 shares of the company's stock, valued at approximately $74,032,000. Norges Bank owned approximately 1.43% of ChampionX as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of CHX. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of ChampionX by 123.7% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 246,152 shares of the company's stock valued at $6,693,000 after buying an additional 136,132 shares during the last quarter. Van ECK Associates Corp increased its stake in ChampionX by 0.3% in the fourth quarter. Van ECK Associates Corp now owns 2,639,352 shares of the company's stock valued at $71,764,000 after purchasing an additional 9,056 shares in the last quarter. Raymond James Financial Inc. bought a new stake in ChampionX in the 4th quarter valued at about $12,080,000. Silphium Asset Management Ltd raised its position in shares of ChampionX by 88.1% during the fourth quarter. Silphium Asset Management Ltd now owns 366,132 shares of the company's stock worth $9,955,000 after purchasing an additional 171,531 shares during the period. Finally, State Street Corp lifted its stake in shares of ChampionX by 1.7% in the third quarter. State Street Corp now owns 7,422,097 shares of the company's stock valued at $223,776,000 after buying an additional 122,622 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors.

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ChampionX Stock Down 4.3 %

CHX stock traded down $1.04 during mid-day trading on Monday, reaching $23.31. 7,483,212 shares of the company traded hands, compared to its average volume of 2,385,525. The firm's 50 day moving average price is $29.10 and its 200 day moving average price is $29.41. ChampionX Co. has a fifty-two week low of $22.32 and a fifty-two week high of $39.95. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 14.13 and a beta of 1.81. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32.

ChampionX (NASDAQ:CHX - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. As a group, equities research analysts predict that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX's dividend payout ratio is 23.03%.

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.