Texas Permanent School Fund Corp Cuts Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Texas Permanent School Fund Corp decreased its holdings in shares of ChampionX Co. (NASDAQ:CHXFree Report) by 4.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 166,955 shares of the company’s stock after selling 7,358 shares during the period. Texas Permanent School Fund Corp owned 0.09% of ChampionX worth $5,947,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Campbell & CO Investment Adviser LLC increased its position in shares of ChampionX by 192.4% during the third quarter. Campbell & CO Investment Adviser LLC now owns 70,957 shares of the company’s stock valued at $2,527,000 after acquiring an additional 46,692 shares in the last quarter. HighTower Advisors LLC increased its position in shares of ChampionX by 321.8% during the third quarter. HighTower Advisors LLC now owns 45,014 shares of the company’s stock valued at $1,592,000 after acquiring an additional 34,343 shares in the last quarter. Pathstone Family Office LLC bought a new stake in shares of ChampionX during the third quarter valued at approximately $375,000. AMG National Trust Bank increased its position in shares of ChampionX by 1.0% during the third quarter. AMG National Trust Bank now owns 39,832 shares of the company’s stock valued at $1,419,000 after acquiring an additional 380 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of ChampionX by 28.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,426,407 shares of the company’s stock valued at $86,429,000 after acquiring an additional 538,555 shares in the last quarter. Institutional investors own 98.99% of the company’s stock.

ChampionX Stock Performance

Shares of NASDAQ CHX opened at $28.99 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.82. The company has a market cap of $5.65 billion, a P/E ratio of 18.47, a P/E/G ratio of 0.70 and a beta of 2.45. The firm’s fifty day moving average is $28.46 and its two-hundred day moving average is $31.96. ChampionX Co. has a 52-week low of $23.66 and a 52-week high of $38.37.

ChampionX (NASDAQ:CHXGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $943.56 million for 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 20.14%. ChampionX’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 EPS. As a group, analysts anticipate that ChampionX Co. will post 1.94 EPS for the current fiscal year.

ChampionX Increases Dividend

The firm also recently announced 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. The ex-dividend date is Thursday, April 4th. This is an increase 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%. ChampionX’s payout ratio is 21.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CHX shares. The Goldman Sachs Group cut their target price on shares of ChampionX from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, November 14th. Barclays upgraded shares of ChampionX from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $33.00 to $42.00 in a research note on Tuesday, October 17th. Stifel Nicolaus dropped their price target on shares of ChampionX from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. Finally, Piper Sandler cut 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Read Our Latest Report on ChampionX

ChampionX Profile

(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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