Mirae Asset Global Investments Co. Ltd. Has $2.64 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Mirae Asset Global Investments Co. Ltd. grew its stake in ChampionX Co. (NASDAQ:CHX) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 90,338 shares of the company’s stock after purchasing an additional 1,909 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in ChampionX were worth $2,639,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. NewEdge Advisors LLC raised its stake in ChampionX by 654.0% during the 1st quarter. NewEdge Advisors LLC now owns 1,870 shares of the company’s stock worth $51,000 after buying an additional 1,622 shares during the period. Covestor Ltd raised its stake in ChampionX by 683.0% during the 1st quarter. Covestor Ltd now owns 2,216 shares of the company’s stock worth $54,000 after buying an additional 1,933 shares during the period. Parkside Financial Bank & Trust raised its stake in 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 buying an additional 352 shares during the period. Penserra Capital Management LLC acquired a new stake in ChampionX during the 3rd quarter worth $96,000. Finally, Mendota Financial Group LLC acquired a new stake in ChampionX during the 4th quarter worth $114,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

Insider Activity

In other news, insider William Jr. O’dell sold 27,178 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $36.00, for a total value of $978,408.00. Following the completion of the transaction, the insider now owns 57,748 shares in the company, valued at approximately $2,078,928. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.38% of the stock is owned by corporate insiders.

ChampionX Price Performance

CHX stock opened at $36.28 on Friday. The stock has a market cap of $6.93 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 1.16 and a beta of 2.44. The stock has a 50-day moving average price of $33.56 and a two-hundred day moving average price of $31.14. 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 $39.95.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $943.56 million during the quarter, compared to analysts’ expectations of $947.33 million. ChampionX had a return on equity of 20.14% and a net margin of 8.36%. ChampionX’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 EPS. Equities analysts forecast that ChampionX Co. will post 1.95 EPS for the current fiscal year.

ChampionX Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Thursday, April 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.05%. ChampionX’s dividend payout ratio (DPR) is presently 24.20%.

Analyst Ratings Changes

Several analysts recently commented on CHX shares. Piper Sandler raised their price objective on ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Citigroup increased their target price on ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Finally, Barclays increased their target price on ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.33.

ChampionX Profile

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.