Van ECK Associates Corp Has $71.76 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Van ECK Associates Corp boosted its stake in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,639,352 shares of the company's stock after purchasing an additional 9,056 shares during the quarter. Van ECK Associates Corp owned about 1.39% of ChampionX worth $71,764,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CHX. Quest Partners LLC lifted its holdings in shares of ChampionX by 86.8% during the third quarter. Quest Partners LLC now owns 69,102 shares of the company's stock worth $2,083,000 after buying an additional 32,103 shares during the last quarter. State Street Corp lifted its holdings in shares of ChampionX by 1.7% during the third quarter. State Street Corp now owns 7,422,097 shares of the company's stock worth $223,776,000 after buying an additional 122,622 shares during the last quarter. Barclays PLC lifted its holdings in shares of ChampionX by 147.2% during the third 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. Geode Capital Management LLC raised its stake in shares of ChampionX by 1.4% in the third quarter. Geode Capital Management LLC now owns 4,617,387 shares of the company's stock valued at $139,239,000 after purchasing an additional 63,119 shares in the last quarter. Finally, Raymond James & Associates raised its stake in shares of ChampionX by 3.1% in the third quarter. Raymond James & Associates now owns 225,285 shares of the company's stock valued at $6,792,000 after purchasing an additional 6,695 shares in the last quarter. Institutional investors own 98.99% of the company's stock.

ChampionX Price Performance

ChampionX stock traded down $0.30 during mid-day trading on Monday, hitting $29.44. 2,609,778 shares of the company were exchanged, compared to its average volume of 3,181,253. The company has a quick ratio of 1.20, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $28.43 and a 200 day moving average of $29.76. ChampionX Co. has a 1-year low of $25.57 and a 1-year high of $39.95. The company has a market capitalization of $5.62 billion, a PE ratio of 17.84 and a beta of 2.35.

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

ChampionX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 3rd were issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Friday, January 3rd. ChampionX's payout ratio is presently 23.03%.

Wall Street Analyst Weigh In

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

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.