Pacer Advisors Inc. Acquires 16,208 Shares of ChampionX Co. (NASDAQ:CHX)

Pacer Advisors Inc. lifted its holdings in shares of ChampionX Co. (NASDAQ:CHXFree Report) by 43.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,931 shares of the company’s stock after purchasing an additional 16,208 shares during the quarter. Pacer Advisors Inc.’s holdings in ChampionX were worth $1,575,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinebridge Investments L.P. raised its position in shares of ChampionX by 1,075.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,175 shares of the company’s stock valued at $36,000 after buying an additional 1,075 shares in the last quarter. NewEdge Advisors LLC raised its position in ChampionX by 654.0% during the first quarter. NewEdge Advisors LLC now owns 1,870 shares of the company’s stock valued at $51,000 after purchasing an additional 1,622 shares in the last quarter. Covestor Ltd lifted its stake in ChampionX by 683.0% during the first quarter. Covestor Ltd now owns 2,216 shares of the company’s stock worth $54,000 after purchasing an additional 1,933 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of ChampionX by 19.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock valued at $77,000 after purchasing an additional 352 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new position in shares of ChampionX in the 3rd quarter valued at $96,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CHX shares. Piper Sandler lowered ChampionX from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $38.00 to $32.00 in a research note on Monday, January 8th. Citigroup raised their price target on shares of ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.50.

Read Our Latest Research Report on CHX

Insider Buying and Selling at ChampionX

In related news, insider William Jr. O’dell sold 27,178 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $36.00, for a total value of $978,408.00. Following the transaction, the insider now owns 57,748 shares in the company, valued at $2,078,928. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.22% of the company’s stock.

ChampionX Stock Performance

NASDAQ:CHX opened at $35.89 on Monday. The stock’s 50-day moving average is $30.76 and its 200-day moving average is $30.94. 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 Co. has a 1-year low of $24.98 and a 1-year high of $38.37. The stock has a market cap of $6.85 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 1.13 and a beta of 2.43.

ChampionX (NASDAQ:CHXGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm 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 20.14%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 earnings per share. Equities research analysts anticipate that ChampionX Co. will post 1.95 earnings per share for the current year.

ChampionX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be issued a $0.095 dividend. The ex-dividend date is Thursday, April 4th. This is a boost from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 annualized dividend and a yield of 1.06%. ChampionX’s dividend payout ratio is presently 21.66%.

ChampionX 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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