Wolverine Asset Management LLC Has $3.22 Million Stake in ChampionX Co. (NASDAQ:CHX)

Wolverine Asset Management LLC lifted its stake in ChampionX Co. (NASDAQ:CHX - Free Report) by 29.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,836 shares of the company's stock after buying an additional 24,392 shares during the period. Wolverine Asset Management LLC owned approximately 0.06% of ChampionX worth $3,221,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in ChampionX by 2.6% in the first quarter. Bessemer Group Inc. now owns 3,842,425 shares of the company's stock valued at $137,905,000 after acquiring an additional 99,100 shares during the last quarter. Millennium Management LLC grew its stake in ChampionX by 12,607.0% in the 2nd quarter. Millennium Management LLC now owns 3,120,847 shares of the company's stock worth $103,643,000 after buying an additional 3,096,287 shares in the last quarter. Magnetar Financial LLC bought a new position in shares of ChampionX in the 2nd quarter worth about $72,860,000. Fiera Capital Corp boosted its holdings in shares of ChampionX by 1.2% in the second quarter. Fiera Capital Corp now owns 1,299,611 shares of the company's stock worth $43,160,000 after buying an additional 15,326 shares during the last quarter. Finally, Earnest Partners LLC increased its position in ChampionX by 32.9% in the first quarter. Earnest Partners LLC now owns 1,164,876 shares of the company's stock worth $41,807,000 after purchasing an additional 288,224 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company's stock.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their price objective 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.

Insiders Place Their Bets

In related news, insider Deric D. Bryant sold 49,303 shares of the company's 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 completion of the sale, the insider now directly owns 337,409 shares in the company, valued at $10,142,514.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.38% of the company's stock.

ChampionX Stock Down 0.4 %

ChampionX stock traded down $0.12 during midday trading on Tuesday, reaching $31.55. The stock had a trading volume of 998,954 shares, compared to its average volume of 1,864,240. The company has a market capitalization of $6.01 billion, a P/E ratio of 19.88 and a beta of 2.38. The company has a fifty day moving average price of $30.08 and a two-hundred day moving average price of $31.73. ChampionX Co. has a 12 month low of $25.46 and a 12 month high of $39.95. 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 (NASDAQ:CHX - Get Free Report) last released its quarterly earnings data 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 company had revenue of $906.53 million during the quarter, compared to analysts' expectations of $916.50 million. ChampionX had a net margin of 8.59% and a return on equity of 19.74%. ChampionX's quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. As a group, equities analysts expect that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Announces Dividend

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

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.