Quadrant Capital Group LLC Purchases 831 Shares of ChampionX Co. (NASDAQ:CHX)

Quadrant Capital Group LLC increased its position in ChampionX Co. (NASDAQ:CHX) by 37.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,041 shares of the company’s stock after purchasing an additional 831 shares during the period. Quadrant Capital Group LLC’s holdings in ChampionX were worth $89,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Personalized Indexing Management LLC boosted its position in shares of ChampionX by 82.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 16,356 shares of the company’s stock valued at $478,000 after buying an additional 7,401 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in ChampionX by 11.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,433,718 shares of the company’s stock worth $100,305,000 after acquiring an additional 349,035 shares during the last quarter. Jump Financial LLC bought a new stake in shares of ChampionX in the 4th quarter worth $213,000. Van Hulzen Asset Management LLC raised its holdings in shares of ChampionX by 3.6% in the fourth quarter. Van Hulzen Asset Management LLC now owns 44,229 shares of the company’s stock valued at $1,292,000 after purchasing an additional 1,528 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in shares of ChampionX during the fourth quarter valued at about $91,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

Insider Activity at ChampionX

In other news, insider William Jr. O’dell sold 27,178 shares of ChampionX stock in a transaction on 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 directly owns 57,748 shares in the company, valued at $2,078,928. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CHX has been the topic of several analyst reports. Piper Sandler boosted their price target on shares of ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Barclays boosted their target price on ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Citigroup increased their price target on ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.33.

ChampionX Stock Down 0.5 %

ChampionX stock opened at $32.65 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.83 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $6.22 billion, a P/E ratio of 17.74, a P/E/G ratio of 1.32 and a beta of 2.45. The firm has a 50 day moving average price of $35.23 and a 200-day moving average price of $31.37. ChampionX Co. has a twelve month low of $24.98 and a twelve month high of $39.95.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. The firm had revenue of $922.14 million for the quarter, compared to analysts’ expectations of $922.13 million. As a group, equities analysts predict that ChampionX Co. will post 1.99 EPS for the current year.

ChampionX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, July 5th. ChampionX’s dividend payout ratio (DPR) is currently 20.65%.

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.