Amalgamated Bank Reduces Stake in ChampionX Co. (NASDAQ:CHX)

Amalgamated Bank lowered its stake in ChampionX Co. (NASDAQ:CHXGet Rating) by 4.3% in the 1st quarter, HoldingsChannel reports. The fund owned 130,458 shares of the company’s stock after selling 5,797 shares during the period. Amalgamated Bank’s holdings in ChampionX were worth $3,194,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC boosted its position in shares of ChampionX by 113.6% during the first quarter. FinTrust Capital Advisors LLC now owns 1,160 shares of the company’s stock valued at $28,000 after buying an additional 617 shares during the period. Quent Capital LLC purchased a new stake in shares of ChampionX in the fourth quarter valued at approximately $33,000. Signaturefd LLC boosted its holdings in shares of ChampionX by 87.7% in the first quarter. Signaturefd LLC now owns 2,042 shares of the company’s stock valued at $50,000 after purchasing an additional 954 shares during the period. Covestor Ltd boosted its holdings in shares of ChampionX by 683.0% in the first quarter. Covestor Ltd now owns 2,216 shares of the company’s stock valued at $54,000 after purchasing an additional 1,933 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in shares of ChampionX by 342,650.0% in the first quarter. Meeder Asset Management Inc. now owns 6,855 shares of the company’s stock valued at $168,000 after purchasing an additional 6,853 shares during the period. Hedge funds and other institutional investors own 98.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CHX. The Goldman Sachs Group lowered their price target on ChampionX from $26.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, July 13th. Benchmark assumed coverage on ChampionX in a report on Wednesday, August 24th. They issued a “buy” rating and a $32.00 price target for the company. Finally, Bank of America raised shares of ChampionX from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $25.00 to $22.00 in a research note on Friday, July 15th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.60.

ChampionX Stock Performance

Shares of NASDAQ:CHX opened at $20.53 on Friday. The firm has a 50 day moving average of $21.27 and a 200 day moving average of $22.12. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 0.37 and a beta of 2.62. The company has a quick ratio of 1.15, a current ratio of 1.95 and a debt-to-equity ratio of 0.39. ChampionX Co. has a 52 week low of $16.64 and a 52 week high of $28.08.

ChampionX (NASDAQ:CHXGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $932.57 million during the quarter, compared to analysts’ expectations of $897.30 million. ChampionX had a return on equity of 10.79% and a net margin of 4.78%. During the same quarter in the previous year, the firm posted $0.11 EPS. On average, sell-side analysts predict that ChampionX Co. will post 1.21 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $0.30 annualized dividend and a dividend yield of 1.46%. ChampionX’s dividend payout ratio is currently 37.98%.

About ChampionX

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ChampionX Corporation provides chemistry solutions, and engineered equipment and technologies to oil and gas companies worldwide. The company's Production Chemical Technologies segment offers onshore and offshore chemical solutions, such as corrosion inhibitors, scale inhibitors, emulsion breakers, and biocides to oil and natural gas production and midstream markets to manage and control corrosion, oil and water separation, flow assurance, sour gas treatment, and water-related issues.

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Institutional Ownership by Quarter for ChampionX (NASDAQ:CHX)

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