Massachusetts Financial Services Co. MA Sells 1,169,851 Shares of ChampionX Co. (NASDAQ:CHX)

Massachusetts Financial Services Co. MA decreased its stake in ChampionX Co. (NASDAQ:CHXFree Report) by 26.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,192,116 shares of the company’s stock after selling 1,169,851 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.64% of ChampionX worth $113,703,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. raised its position in ChampionX by 0.5% in the 1st quarter. BlackRock Inc. now owns 24,501,257 shares of the company’s stock worth $599,791,000 after purchasing an additional 126,529 shares during the period. Vanguard Group Inc. lifted its stake in shares of ChampionX by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 19,915,020 shares of the company’s stock worth $487,520,000 after acquiring an additional 132,397 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of ChampionX by 13.7% during the 2nd quarter. Alliancebernstein L.P. now owns 8,184,487 shares of the company’s stock worth $254,046,000 after acquiring an additional 988,872 shares during the last quarter. State Street Corp boosted its holdings in ChampionX by 6.1% during the 1st quarter. State Street Corp now owns 7,422,065 shares of the company’s stock valued at $201,357,000 after acquiring an additional 426,656 shares during the period. Finally, Clearbridge Investments LLC grew its position in ChampionX by 7.9% in the 2nd quarter. Clearbridge Investments LLC now owns 4,950,510 shares of the company’s stock valued at $153,664,000 after acquiring an additional 361,035 shares during the last quarter. Institutional investors own 98.99% of the company’s stock.

ChampionX Stock Performance

NASDAQ:CHX opened at $29.01 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.87. The firm has a 50-day simple moving average of $28.47 and a 200-day simple moving average of $32.07. ChampionX Co. has a one year low of $23.66 and a one year high of $38.37. The firm has a market cap of $5.65 billion, a P/E ratio of 18.48, a P/E/G ratio of 0.63 and a beta of 2.45.

ChampionX (NASDAQ:CHXGet Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $943.56 million during the quarter, compared to the consensus estimate of $947.33 million. ChampionX had a net margin of 8.36% and a return on equity of 20.04%. ChampionX’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Equities analysts anticipate that ChampionX Co. will post 1.96 EPS for the current fiscal year.

ChampionX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be issued a $0.095 dividend. This is a boost from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Thursday, April 4th. ChampionX’s dividend payout ratio (DPR) is currently 21.66%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CHX shares. Piper Sandler lowered shares of ChampionX from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $38.00 to $32.00 in a research note on Monday, January 8th. Stifel Nicolaus lowered their price objective on shares of ChampionX from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. The Goldman Sachs Group reduced their target price on shares of ChampionX from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 14th. Finally, Barclays upgraded ChampionX from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $33.00 to $42.00 in a report on Tuesday, October 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, ChampionX presently has an average rating of “Moderate Buy” and a consensus price target of $37.50.

View Our Latest Analysis on CHX

About ChampionX

(Free Report)

ChampionX Corporation provides chemistry solutions, 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.

Further Reading

Institutional Ownership by Quarter for ChampionX (NASDAQ:CHX)

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