Verition Fund Management LLC lifted its stake in ChampionX Co. (NASDAQ:CHX - Free Report) by 164.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320,100 shares of the company's stock after buying an additional 199,169 shares during the period. Verition Fund Management LLC owned approximately 0.17% of ChampionX worth $9,651,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in ChampionX by 442.4% in the third quarter. Blue Trust Inc. now owns 1,329 shares of the company's stock valued at $44,000 after acquiring an additional 1,084 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of ChampionX in the 2nd quarter valued at about $68,000. UMB Bank n.a. grew its stake in 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 last quarter. KBC Group NV increased its position in ChampionX by 18.3% during the third quarter. KBC Group NV now owns 5,827 shares of the company's stock worth $176,000 after buying an additional 903 shares during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new position in ChampionX during the second quarter worth approximately $194,000. 98.99% of the stock is owned by hedge funds and other institutional investors.
ChampionX Stock Performance
Shares of CHX traded up $0.25 during mid-day trading on Friday, hitting $30.95. 827,241 shares of the company's stock were exchanged, compared to its average volume of 1,593,944. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95. The business's 50 day moving average is $30.54 and its two-hundred day moving average is $31.44. The firm has a market capitalization of $5.90 billion, a P/E ratio of 19.22 and a beta of 2.38.
ChampionX (NASDAQ:CHX - Get Free Report) last posted its quarterly earnings data 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 return on equity of 19.74% and a net margin of 8.59%. The company had revenue of $906.53 million for the quarter, compared to analyst estimates of $916.50 million. During the same period in the previous year, the business posted $0.41 earnings per share. The firm's revenue was down 3.5% compared to the same quarter last year. On average, equities analysts expect that ChampionX Co. will post 1.66 earnings per share for the current year.
ChampionX Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be paid a $0.095 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.38 annualized dividend and a yield of 1.23%. ChampionX's dividend payout ratio is currently 23.60%.
Insiders Place Their Bets
In other news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the completion of the transaction, the insider now directly owns 337,409 shares of the company's stock, valued at approximately $10,142,514.54. This represents a 12.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.38% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Separately, Citigroup lowered their target price on shares of ChampionX from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th.
View Our Latest Stock Analysis on CHX
ChampionX Profile
(
Free Report)
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.
See Also
Before you consider ChampionX, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ChampionX wasn't on the list.
While ChampionX currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.