Envestnet Asset Management Inc. Trims Stake in ChampionX Co. (NASDAQ:CHX)

Envestnet Asset Management Inc. cut its position in shares of ChampionX Co. (NASDAQ:CHX) by 8.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 756,762 shares of the company’s stock after selling 71,863 shares during the period. Envestnet Asset Management Inc.’s holdings in ChampionX were worth $20,576,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CHX. ExodusPoint Capital Management LP lifted its holdings in ChampionX by 23.5% during the 4th quarter. ExodusPoint Capital Management LP now owns 85,100 shares of the company’s stock valued at $2,314,000 after buying an additional 16,220 shares in the last quarter. Slotnik Capital LLC raised its stake in shares of ChampionX by 4.5% during the fourth quarter. Slotnik Capital LLC now owns 606,915 shares of the company’s stock valued at $16,502,000 after acquiring an additional 26,219 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of ChampionX in the fourth quarter valued at approximately $2,689,000. Headlands Technologies LLC grew its stake in ChampionX by 83.0% in the fourth quarter. Headlands Technologies LLC now owns 128,814 shares of the company’s stock worth $3,502,000 after purchasing an additional 58,415 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in ChampionX by 80.9% during the 4th quarter. Wellington Management Group LLP now owns 769,436 shares of the company’s stock worth $20,921,000 after purchasing an additional 344,149 shares during the period. 98.99% of the stock is owned by hedge funds and other institutional investors.

ChampionX Price Performance

Shares of CHX stock opened at $24.48 on Tuesday. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 14.84 and a beta of 1.81. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32. ChampionX Co. has a twelve month low of $21.92 and a twelve month high of $37.83. The stock has a fifty day simple moving average of $28.39 and a two-hundred day simple moving average of $29.10.

ChampionX (NASDAQ:CHX) last issued its earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. On average, analysts predict that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.095 per share. The ex-dividend date is Friday, April 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.55%. ChampionX’s dividend payout ratio is currently 23.03%.

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.