Fulton Bank N.A. Invests $252,000 in ChampionX Co. (NASDAQ:CHX)

Fulton Bank N.A. acquired a new position in shares of ChampionX Co. (NASDAQ:CHX – Get Rating) in the fourth quarter, HoldingsChannel reports. The firm acquired 8,691 shares of the company’s stock, valued at approximately $252,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHX. Brown Advisory Inc. grew its holdings in ChampionX by 66.0% in the 2nd quarter. Brown Advisory Inc. now owns 4,519,316 shares of the company’s stock valued at $89,709,000 after buying an additional 1,797,386 shares during the period. FMR LLC grew its holdings in shares of ChampionX by 247.6% during the 2nd quarter. FMR LLC now owns 2,487,220 shares of the company’s stock worth $49,372,000 after purchasing an additional 1,771,743 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of ChampionX by 37.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,273,023 shares of the company’s stock worth $122,763,000 after purchasing an additional 1,701,213 shares during the period. Balyasny Asset Management LLC purchased a new stake in shares of ChampionX during the 3rd quarter worth about $31,134,000. Finally, Jupiter Asset Management Ltd. grew its holdings in shares of ChampionX by 5,368.6% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,234,815 shares of the company’s stock worth $24,165,000 after purchasing an additional 1,212,235 shares during the period. Hedge funds and other institutional investors own 98.46% of the company’s stock.

Insider Buying and Selling

In related news, insider Paul E. Mahoney sold 1,171 shares of the business’s stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $31.29, for a total transaction of $36,640.59. Following the transaction, the insider now directly owns 119,816 shares of the company’s stock, valued at approximately $3,749,042.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Paul E. Mahoney sold 1,171 shares of the business’s stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $31.29, for a total transaction of $36,640.59. Following the transaction, the insider now directly owns 119,816 shares of the company’s stock, valued at approximately $3,749,042.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Antoine Marcos sold 146,955 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $30.00, for a total value of $4,408,650.00. Following the transaction, the chief accounting officer now directly owns 42,380 shares in the company, valued at $1,271,400. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

ChampionX Stock Down 2.5 %

Shares of NASDAQ:CHX opened at $25.29 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.11 and a current ratio of 1.74. ChampionX Co. has a 1 year low of $16.64 and a 1 year high of $33.65. The stock has a market capitalization of $5.02 billion, a P/E ratio of 33.72, a PEG ratio of 0.52 and a beta of 2.58. The stock has a 50-day simple moving average of $30.79 and a 200-day simple moving average of $27.70.

ChampionX (NASDAQ:CHX – Get Rating) last issued its earnings results on Thursday, February 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. ChampionX had a return on equity of 14.99% and a net margin of 4.07%. The business had revenue of $985.86 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business earned $0.26 EPS. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. Equities analysts forecast that ChampionX Co. will post 1.78 earnings per share for the current year.

ChampionX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 7th will be given a dividend of $0.085 per share. The ex-dividend date of this dividend is Wednesday, April 5th. This is a positive change from ChampionX’s previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a yield of 1.34%. ChampionX’s payout ratio is 40.00%.

About ChampionX

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ChampionX Corp. engages in the provision of chemistry programs and services for global upstream oil and natural gas industry. It operates under the following segments: Production Chemical Technologies, Production and Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies.