ChampionX Co. (NASDAQ:CHX) Shares Sold by Retirement Systems of Alabama

Posted by Defense World Staff on May 2nd, 2023

Retirement Systems of Alabama lessened its holdings in shares of ChampionX Co. (NASDAQ:CHX – Get Rating) by 1.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 262,763 shares of the company’s stock after selling 2,912 shares during the period. Retirement Systems of Alabama owned 0.13% of ChampionX worth $7,617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CHX. Quadrant Capital Group LLC increased its position in ChampionX by 27.9% during the third quarter. Quadrant Capital Group LLC now owns 1,688 shares of the company’s stock worth $33,000 after buying an additional 368 shares during the period. Rockefeller Capital Management L.P. increased its position in ChampionX by 33.1% during the third quarter. Rockefeller Capital Management L.P. now owns 2,291 shares of the company’s stock worth $44,000 after buying an additional 570 shares during the period. Wipfli Financial Advisors LLC acquired a new position in ChampionX during the third quarter worth approximately $53,000. Huntington National Bank increased its position in ChampionX by 43.6% during the third quarter. Huntington National Bank now owns 2,718 shares of the company’s stock worth $54,000 after buying an additional 825 shares during the period. Finally, Covestor Ltd increased its position in ChampionX by 683.0% during the first quarter. Covestor Ltd now owns 2,216 shares of the company’s stock worth $54,000 after buying an additional 1,933 shares during the period. Institutional investors and hedge funds own 98.46% of the company’s stock.

ChampionX Trading Up 0.2 %

Shares of CHX stock opened at $27.13 on Tuesday. The business’s 50 day moving average is $28.10 and its two-hundred day moving average is $29.10. ChampionX Co. has a twelve month low of $16.64 and a twelve month high of $33.65. The company has a market capitalization of $5.37 billion, a P/E ratio of 30.83, a price-to-earnings-growth ratio of 0.53 and a beta of 2.55. The company has a current ratio of 1.75, a quick ratio of 1.11 and a debt-to-equity ratio of 0.36.

ChampionX (NASDAQ:CHX – Get Rating) last announced its earnings results on Tuesday, April 25th. The company reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. ChampionX had a return on equity of 16.87% and a net margin of 4.68%. The company had revenue of $948.35 million for the quarter, compared to the consensus estimate of $965.93 million. During the same period last year, the business posted $0.22 EPS. The company’s revenue was up 9.5% on a year-over-year basis. Equities analysts forecast that ChampionX Co. will post 1.85 EPS for the current year.

ChampionX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Friday, April 7th were paid a $0.085 dividend. The ex-dividend date of this dividend was Wednesday, April 5th. 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 1.25%. ChampionX’s payout ratio is 38.64%.

Insider Activity at ChampionX

In related news, insider Paul E. Mahoney sold 1,171 shares of ChampionX stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $31.29, for a total value of $36,640.59. Following the sale, the insider now directly owns 119,816 shares in the company, valued at $3,749,042.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

CHX has been the topic of several research analyst reports. Citigroup cut their price target on ChampionX from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, April 5th. TheStreet raised ChampionX from a “c+” rating to a “b-” rating in a research report on Friday, March 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.80.

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.