Quadrant Capital Group LLC Acquires 368 Shares of ChampionX Co. (NASDAQ:CHX)

Posted by Defense World Staff on Feb 25th, 2023

Quadrant Capital Group LLC raised its stake in shares of ChampionX Co. (NASDAQ:CHX – Get Rating) by 27.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,688 shares of the company’s stock after purchasing an additional 368 shares during the period. Quadrant Capital Group LLC’s holdings in ChampionX were worth $33,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHX. Commerce Bank lifted its position in shares of ChampionX by 1.9% during the 3rd quarter. Commerce Bank now owns 22,646 shares of the company’s stock worth $444,000 after buying an additional 412 shares in the last quarter. IFP Advisors Inc raised its stake in shares of ChampionX by 4.3% in the third quarter. IFP Advisors Inc now owns 10,241 shares of the company’s stock valued at $98,000 after buying an additional 418 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its position in shares of ChampionX by 1.4% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 34,046 shares of the company’s stock valued at $676,000 after buying an additional 484 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of ChampionX by 33.1% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 2,291 shares of the company’s stock worth $44,000 after acquiring an additional 570 shares during the period. Finally, Mariner LLC increased its holdings in ChampionX by 3.2% in the 1st quarter. Mariner LLC now owns 22,146 shares of the company’s stock worth $542,000 after acquiring an additional 694 shares during the last quarter. 98.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In other ChampionX news, CAO Antoine Marcos sold 146,955 shares of ChampionX stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $30.00, for a total transaction of $4,408,650.00. Following the transaction, the chief accounting officer now directly owns 42,380 shares of the company’s stock, valued at $1,271,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ChampionX news, Director Stephen M. Todd sold 3,097 shares of ChampionX stock in a transaction that occurred on Wednesday, November 30th. The stock was sold at an average price of $30.60, for a total value of $94,768.20. Following the transaction, the director now directly owns 30,888 shares of the company’s stock, valued at approximately $945,172.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Antoine Marcos sold 146,955 shares of the stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $30.00, for a total value of $4,408,650.00. Following the sale, the chief accounting officer now directly owns 42,380 shares of the company’s stock, valued at approximately $1,271,400. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 151,223 shares of company stock worth $4,540,059. Corporate insiders own 1.10% of the company’s stock.

ChampionX Stock Up 2.5 %

CHX opened at $30.87 on Friday. The firm has a market capitalization of $6.13 billion, a P/E ratio of 41.16, a price-to-earnings-growth ratio of 0.39 and a beta of 2.58. ChampionX Co. has a one year low of $16.64 and a one year high of $33.65. The company has a fifty day moving average price of $30.48 and a 200-day moving average price of $26.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.74 and a quick ratio of 1.11.

ChampionX (NASDAQ:CHX – Get Rating) last posted its earnings results on Thursday, February 2nd. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. ChampionX had a return on equity of 14.99% and a net margin of 4.07%. The business had revenue of $985.86 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the business earned $0.26 earnings per share. The firm’s revenue was up 19.9% on a year-over-year basis. Equities research analysts expect that ChampionX Co. will post 1.78 earnings per share for the current fiscal year.

ChampionX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 7th will be issued a dividend of $0.085 per share. This is an increase from ChampionX’s previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Wednesday, April 5th. ChampionX’s payout ratio is currently 40.00%.

Analyst Ratings Changes

A number of equities analysts have weighed in on CHX shares. The Goldman Sachs Group increased their target price on shares of ChampionX from $21.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 2nd. Citigroup lifted their price objective on shares of ChampionX from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, November 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.67.

About ChampionX

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ChampionX Corp. engages in the provision of chemistry programs and services for global upstream oil and natural gas industry. It operates under the following segments: Production Chemical Technologies, Production and Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies.