Quantbot Technologies LP Makes New $2.05 Million Investment in ChampionX Co. (NASDAQ:CHX)

Quantbot Technologies LP purchased a new stake in shares of ChampionX Co. (NASDAQ:CHX - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 68,138 shares of the company's stock, valued at approximately $2,054,000.

A number of other hedge funds have also recently bought and sold shares of CHX. Blue Trust Inc. boosted its position in ChampionX by 442.4% during the third quarter. Blue Trust Inc. now owns 1,329 shares of the company's stock worth $44,000 after purchasing an additional 1,084 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of ChampionX during the 2nd quarter worth about $68,000. UMB Bank n.a. boosted its holdings in shares of 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. KBC Group NV raised its holdings in ChampionX by 18.3% in the 3rd 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 period. Finally, Fifth Third Wealth Advisors LLC bought a new position in ChampionX in the 2nd quarter valued at about $194,000. 98.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Citigroup decreased their target price 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 Price Performance

Shares of NASDAQ CHX traded up $0.25 during midday trading on Friday, reaching $30.95. The company's stock had a trading volume of 827,241 shares, compared to its average volume of 1,842,743. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. The company has a market cap of $5.90 billion, a P/E ratio of 19.22 and a beta of 2.38. The business's 50 day moving average price is $30.53 and its two-hundred day moving average price is $31.49. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week 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 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 for the quarter, compared to the consensus estimate of $916.50 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The business's revenue was down 3.5% compared to the same quarter last year. On average, analysts forecast that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX's dividend payout ratio is currently 23.60%.

Insider Activity

In related news, insider Deric D. Bryant sold 49,303 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total value of $1,482,048.18. Following the sale, the insider now directly owns 337,409 shares of the company's stock, valued at $10,142,514.54. This trade represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.38% of the company's stock.

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.