Truist Financial Corp Decreases Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Truist Financial Corp lessened its holdings in ChampionX Co. (NASDAQ:CHX - Free Report) by 9.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 82,475 shares of the company's stock after selling 8,861 shares during the period. Truist Financial Corp's holdings in ChampionX were worth $2,242,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHX. Calamos Advisors LLC raised its stake in shares of ChampionX by 470.4% during the 4th quarter. Calamos Advisors LLC now owns 1,494,500 shares of the company's stock worth $40,635,000 after acquiring an additional 1,232,500 shares in the last quarter. Westchester Capital Management LLC lifted its holdings in shares of ChampionX by 67.8% during the 3rd quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company's stock valued at $85,268,000 after purchasing an additional 1,142,628 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of ChampionX during the 3rd quarter valued at $15,075,000. Alpine Associates Management Inc. boosted its position in shares of ChampionX by 103.9% in the 3rd quarter. Alpine Associates Management Inc. now owns 723,516 shares of the company's stock worth $21,814,000 after purchasing an additional 368,616 shares in the last quarter. Finally, Barclays PLC grew its stake in ChampionX by 147.2% during the 3rd quarter. Barclays PLC now owns 357,081 shares of the company's stock worth $10,766,000 after buying an additional 212,654 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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ChampionX Stock Performance

Shares of CHX traded up $0.52 during trading hours on Friday, reaching $29.80. 3,554,425 shares of the company traded hands, compared to its average volume of 3,094,701. The stock has a market capitalization of $5.69 billion, a P/E ratio of 18.06 and a beta of 2.35. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average price of $28.77 and a 200-day moving average price of $29.68. ChampionX Co. has a 12-month low of $25.57 and a 12-month high of $39.95.

ChampionX (NASDAQ:CHX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.50 earnings per share for the quarter, beating 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%. Equities analysts anticipate that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Announces Dividend

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