Versor Investments LP Increases Stake in ChampionX Co. (NASDAQ:CHX)

Versor Investments LP boosted its stake in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 87.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 331,806 shares of the company's stock after buying an additional 154,678 shares during the period. ChampionX makes up approximately 1.6% of Versor Investments LP's holdings, making the stock its 2nd biggest holding. Versor Investments LP owned 0.17% of ChampionX worth $10,004,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of ChampionX during the first quarter worth about $27,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of ChampionX by 3.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 41,534 shares of the company's stock valued at $1,491,000 after purchasing an additional 1,319 shares during the last quarter. Sei Investments Co. lifted its position in shares of ChampionX by 18.0% in the first quarter. Sei Investments Co. now owns 798,936 shares of the company's stock worth $28,674,000 after purchasing an additional 121,700 shares in the last quarter. Meeder Advisory Services Inc. acquired a new position in ChampionX during the first quarter worth $201,000. Finally, Russell Investments Group Ltd. increased its stake in ChampionX by 2.5% in the 1st quarter. Russell Investments Group Ltd. now owns 228,230 shares of the company's stock valued at $8,191,000 after buying an additional 5,528 shares during the last quarter. Institutional investors own 98.99% of the company's stock.

ChampionX Stock Performance

Shares of NASDAQ:CHX traded up $0.88 during trading on Monday, reaching $31.67. 1,645,159 shares of the stock were exchanged, compared to its average volume of 1,864,415. ChampionX Co. has a 12 month low of $25.46 and a 12 month high of $39.95. The stock has a 50-day moving average price of $30.07 and a 200-day moving average price of $31.76. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33. The firm has a market cap of $6.03 billion, a PE ratio of 19.67 and a beta of 2.38.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $906.53 million during the quarter, compared to the consensus estimate of $916.50 million. ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The business's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 earnings per share. Research analysts expect that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were given a dividend of $0.095 per share. The ex-dividend date was Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.20%. ChampionX's payout ratio is presently 23.60%.

Insider Transactions at ChampionX

In other news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction 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 sale, the insider now directly owns 337,409 shares of the company's stock, valued at approximately $10,142,514.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.38% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their target price on shares of ChampionX from $40.00 to $33.00 and set a "neutral" rating on the stock in a report on Monday, July 15th.

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.