Principal Financial Group Inc. Has $51.08 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Principal Financial Group Inc. lowered its position in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,878,754 shares of the company's stock after selling 108,830 shares during the quarter. Principal Financial Group Inc. owned approximately 0.99% of ChampionX worth $51,084,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CHX. Blue Trust Inc. raised its stake in shares of ChampionX by 442.4% during the 3rd quarter. Blue Trust Inc. now owns 1,329 shares of the company's stock worth $44,000 after purchasing an additional 1,084 shares in the last quarter. R Squared Ltd bought a new stake in ChampionX during the fourth quarter worth $103,000. KBC Group NV lifted its stake in ChampionX by 18.3% in the third quarter. KBC Group NV now owns 5,827 shares of the company's stock valued at $176,000 after acquiring an additional 903 shares during the last quarter. Quantinno Capital Management LP bought a new position in shares of ChampionX in the 3rd quarter valued at about $265,000. Finally, Coldstream Capital Management Inc. grew its position in shares of ChampionX by 6.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 9,625 shares of the company's stock valued at $290,000 after acquiring an additional 594 shares during the period. Institutional investors own 98.99% of the company's stock.

Wall Street Analyst Weigh In

Separately, Citigroup lowered their price target on ChampionX from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th.

ChampionX Stock Performance

Shares of NASDAQ:CHX traded down $0.52 on Friday, hitting $29.69. The company had a trading volume of 2,524,452 shares, compared to its average volume of 2,992,099. ChampionX Co. has a 1-year low of $25.57 and a 1-year high of $39.95. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 17.99 and a beta of 2.35. The stock has a 50 day moving average price of $28.49 and a 200 day moving average price of $29.75. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32.

ChampionX (NASDAQ:CHX - Get Free Report) last issued its quarterly earnings results 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 return on equity of 19.84% and a net margin of 8.81%. Analysts expect that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.28%. ChampionX's dividend payout ratio is 23.03%.

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.