Westfield Capital Management Co. LP Boosts Stock Position in ChampionX Co. (NASDAQ:CHX)

Westfield Capital Management Co. LP lifted its position in ChampionX Co. (NASDAQ:CHX - Free Report) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,133,863 shares of the company's stock after acquiring an additional 50,120 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.60% of ChampionX worth $34,186,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mount Yale Investment Advisors LLC grew its position in ChampionX by 72.1% during the first quarter. Mount Yale Investment Advisors LLC now owns 26,667 shares of the company's stock valued at $957,000 after buying an additional 11,176 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of ChampionX during the 1st quarter worth approximately $1,052,000. Tidal Investments LLC raised its holdings in shares of ChampionX by 34.2% in the 1st quarter. Tidal Investments LLC now owns 22,988 shares of the company's stock worth $825,000 after purchasing an additional 5,857 shares during the period. Yaupon Capital Management LP bought a new stake in shares of ChampionX in the 1st quarter worth approximately $228,000. Finally, Cetera Advisors LLC purchased a new position in ChampionX in the first quarter valued at approximately $488,000. Hedge funds and other institutional investors own 98.99% of the company's stock.

Insider Activity

In related news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the transaction, the insider now owns 337,409 shares of the company's stock, valued at approximately $10,142,514.54. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.38% of the company's stock.

ChampionX Stock Performance

Shares of NASDAQ CHX traded down $0.32 during midday trading on Monday, hitting $30.92. The company's stock had a trading volume of 2,032,104 shares, compared to its average volume of 1,850,509. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 19.20 and a beta of 2.38. 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 stock has a fifty day moving average price of $30.50 and a 200 day moving average price of $31.53. ChampionX Co. has a one year low of $25.46 and a one year high of $39.95.

ChampionX (NASDAQ:CHX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) 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 analysts' expectations of $916.50 million. During the same period last year, the company posted $0.41 EPS. The business's revenue for the quarter was down 3.5% on a year-over-year basis. On average, research analysts forecast that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Announces Dividend

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

Analysts Set New Price Targets

Separately, Citigroup decreased their target price on ChampionX from $45.00 to $40.00 and set a "buy" rating for the company in a research report 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.