Truist Financial Corp Has $2.80 Million Holdings in ChampionX Co. (NASDAQ:CHX)

Truist Financial Corp trimmed its position in shares of ChampionX Co. (NASDAQ:CHX) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,949 shares of the company’s stock after selling 4,211 shares during the period. Truist Financial Corp’s holdings in ChampionX were worth $2,803,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in shares of ChampionX in the fourth quarter valued at about $26,000. Parkside Financial Bank & Trust lifted its position in ChampionX by 19.4% during the third quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock worth $77,000 after acquiring an additional 352 shares during the last quarter. Mendota Financial Group LLC bought a new stake in shares of ChampionX during the fourth quarter worth approximately $114,000. SG Americas Securities LLC grew its position in shares of ChampionX by 16.9% in the third quarter. SG Americas Securities LLC now owns 4,479 shares of the company’s stock valued at $160,000 after purchasing an additional 649 shares during the last quarter. Finally, Prudent Man Advisors LLC bought a new position in shares of ChampionX during the third quarter worth approximately $201,000. 98.99% of the stock is owned by institutional investors.

ChampionX Trading Up 0.8 %

CHX opened at $34.03 on Wednesday. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 1.06 and a beta of 2.45. The company has a quick ratio of 1.16, a current ratio of 1.83 and a debt-to-equity ratio of 0.35. ChampionX Co. has a twelve month low of $24.98 and a twelve month high of $39.95. The company has a 50-day simple moving average of $34.64 and a 200 day simple moving average of $31.12.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The company had revenue of $922.14 million during the quarter, compared to the consensus estimate of $922.13 million. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. Analysts predict that ChampionX Co. will post 1.95 EPS for the current fiscal year.

ChampionX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 5th were paid a $0.095 dividend. This is a positive change from ChampionX’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.12%. ChampionX’s dividend payout ratio (DPR) is presently 20.65%.

Insider Transactions at ChampionX

In other news, insider William Jr. O’dell sold 27,178 shares of the stock in a transaction dated Thursday, March 28th. The shares were 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 of the company’s stock, valued at $2,078,928. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CHX. Barclays upped their price objective on ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Citigroup raised their price target on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Finally, Piper Sandler boosted their price objective on shares of ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Two 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 an average price target 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.