Advisory Research Inc. Trims Position in ChampionX Co. (NASDAQ:CHX)

Posted by on Mar 15th, 2023

Advisory Research Inc. reduced its position in ChampionX Co. (NASDAQ:CHX – Get Rating) by 55.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 111,825 shares of the company’s stock after selling 136,640 shares during the quarter. Advisory Research Inc. owned about 0.06% of ChampionX worth $2,189,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CHX. Brown Advisory Inc. raised its position in shares of ChampionX by 66.0% in the 2nd quarter. Brown Advisory Inc. now owns 4,519,316 shares of the company’s stock worth $89,709,000 after buying an additional 1,797,386 shares during the period. FMR LLC increased its holdings in ChampionX by 247.6% in the 2nd quarter. FMR LLC now owns 2,487,220 shares of the company’s stock valued at $49,372,000 after purchasing an additional 1,771,743 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in ChampionX by 37.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,273,023 shares of the company’s stock valued at $122,763,000 after purchasing an additional 1,701,213 shares in the last quarter. Balyasny Asset Management LLC acquired a new stake in ChampionX in the 3rd quarter valued at $31,134,000. Finally, Jupiter Asset Management Ltd. increased its holdings in ChampionX by 5,368.6% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,234,815 shares of the company’s stock valued at $24,165,000 after purchasing an additional 1,212,235 shares in the last quarter. 98.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Antoine Marcos sold 146,955 shares of the firm’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $30.00, for a total transaction of $4,408,650.00. Following the completion of the sale, the chief accounting officer now directly owns 42,380 shares in the company, valued at $1,271,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Paul E. Mahoney sold 1,171 shares of ChampionX stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $31.29, for a total value of $36,640.59. Following the completion of the transaction, the insider now directly owns 119,816 shares in the company, valued at $3,749,042.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Antoine Marcos sold 146,955 shares of ChampionX stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $30.00, for a total value of $4,408,650.00. Following the completion of the transaction, the chief accounting officer now owns 42,380 shares of the company’s stock, valued at $1,271,400. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

ChampionX Stock Down 0.5 %

Shares of NASDAQ CHX opened at $27.46 on Wednesday. ChampionX Co. has a 12-month low of $16.64 and a 12-month high of $33.65. The company has a market cap of $5.45 billion, a P/E ratio of 36.61, a P/E/G ratio of 0.58 and a beta of 2.58. The company has a current ratio of 1.74, a quick ratio of 1.11 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average price of $31.00 and a 200 day moving average price of $27.64.

ChampionX (NASDAQ:CHX – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $985.86 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $0.26 EPS. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. Research analysts anticipate that ChampionX Co. will post 1.78 EPS for the current fiscal year.

ChampionX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 7th will be paid a dividend of $0.085 per share. The ex-dividend date is Wednesday, April 5th. This is an increase from ChampionX’s previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a dividend yield of 1.24%. ChampionX’s dividend payout ratio (DPR) is currently 45.33%.

ChampionX Company Profile

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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.

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Institutional Ownership by Quarter for ChampionX (NASDAQ:CHX)

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