Strs Ohio Has $1.49 Million Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Strs Ohio lowered its stake in shares of ChampionX Co. (NASDAQ:CHX) by 7.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,900 shares of the company’s stock after selling 4,000 shares during the quarter. Strs Ohio’s holdings in ChampionX were worth $1,486,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. increased its position in ChampionX by 0.5% during the first quarter. BlackRock Inc. now owns 24,501,257 shares of the company’s stock worth $599,791,000 after acquiring an additional 126,529 shares during the period. Vanguard Group Inc. increased its holdings in ChampionX by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 19,915,020 shares of the company’s stock valued at $487,520,000 after buying an additional 132,397 shares during the period. Alliancebernstein L.P. increased its holdings in ChampionX by 13.7% in the 2nd quarter. Alliancebernstein L.P. now owns 8,184,487 shares of the company’s stock valued at $254,046,000 after buying an additional 988,872 shares during the period. State Street Corp increased its holdings in ChampionX by 6.1% in the 1st quarter. State Street Corp now owns 7,422,065 shares of the company’s stock valued at $201,357,000 after buying an additional 426,656 shares during the period. Finally, FMR LLC increased its holdings in ChampionX by 20.2% in the 3rd quarter. FMR LLC now owns 7,109,432 shares of the company’s stock valued at $253,238,000 after buying an additional 1,193,122 shares during the period. Institutional investors own 98.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CHX shares. Piper Sandler boosted their price target on shares of ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Barclays boosted their price target on shares of ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, Citigroup boosted their price target on shares of ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.33.

ChampionX Stock Down 2.1 %

Shares of NASDAQ:CHX opened at $35.53 on Monday. ChampionX Co. has a 52 week low of $24.98 and a 52 week high of $39.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.15 and a current ratio of 1.82. The company’s fifty day moving average is $33.69 and its 200-day moving average is $31.10. The company has a market capitalization of $6.79 billion, a PE ratio of 22.63, a P/E/G ratio of 1.12 and a beta of 2.44.

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

ChampionX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be paid a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, April 4th. This is an increase from ChampionX’s previous quarterly dividend of $0.09. ChampionX’s payout ratio is currently 24.20%.

Insider Activity

In related news, insider William Jr. O’dell sold 27,178 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $36.00, for a total transaction of $978,408.00. Following 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 SEC, which can be accessed through this link. 1.38% of the stock is owned by corporate insiders.

About ChampionX

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.