Portside Wealth Group LLC Has $340,000 Stock Position in ChampionX Co. (NASDAQ:CHX)

Portside Wealth Group LLC trimmed its holdings in shares of ChampionX Co. (NASDAQ:CHXFree Report) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,628 shares of the company’s stock after selling 487 shares during the quarter. Portside Wealth Group LLC’s holdings in ChampionX were worth $340,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Snowden Capital Advisors LLC boosted its holdings in shares of ChampionX by 2.7% during the 2nd quarter. Snowden Capital Advisors LLC now owns 13,367 shares of the company’s stock worth $415,000 after buying an additional 349 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of ChampionX by 19.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock worth $77,000 after purchasing an additional 352 shares in the last quarter. AMG National Trust Bank grew its stake in shares of ChampionX by 1.0% in the 3rd quarter. AMG National Trust Bank now owns 39,832 shares of the company’s stock valued at $1,419,000 after buying an additional 380 shares during the period. United Services Automobile Association increased its position in ChampionX by 4.1% in the 3rd quarter. United Services Automobile Association now owns 13,913 shares of the company’s stock valued at $496,000 after buying an additional 547 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in ChampionX by 16.9% during the 3rd quarter. SG Americas Securities LLC now owns 4,479 shares of the company’s stock worth $160,000 after buying an additional 649 shares during the period. 98.99% of the stock is currently owned by institutional investors.

ChampionX Trading Down 0.2 %

Shares of ChampionX stock opened at $34.33 on Tuesday. The stock has a fifty day simple moving average of $30.02 and a 200 day simple moving average of $31.01. ChampionX Co. has a 12-month low of $24.83 and a 12-month high of $38.37. The company has a market capitalization of $6.56 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 1.09 and a beta of 2.43. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36.

ChampionX (NASDAQ:CHXGet Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. ChampionX had a return on equity of 20.14% and a net margin of 8.36%. The business had revenue of $943.56 million for the quarter, compared to analysts’ expectations of $947.33 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that ChampionX Co. will post 1.95 earnings per share for the current fiscal year.

ChampionX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be given a $0.095 dividend. The ex-dividend date is Thursday, April 4th. This represents a $0.38 annualized dividend and a yield of 1.11%. This is a boost from ChampionX’s previous quarterly dividend of $0.09. ChampionX’s payout ratio is currently 21.66%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler downgraded ChampionX from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $38.00 to $32.00 in a report on Monday, January 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $37.50.

View Our Latest Stock Report on ChampionX

ChampionX Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ChampionX (NASDAQ:CHX)

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