Rhumbline Advisers lowered its stake in ChampionX Co. (NASDAQ:CHX – Free Report) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 761,781 shares of the company’s stock after selling 3,807 shares during the quarter. Rhumbline Advisers owned approximately 0.38% of ChampionX worth $20,667,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in ChampionX by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 74,057 shares of the company’s stock worth $1,813,000 after acquiring an additional 7,061 shares during the period. BlackRock Inc. boosted its position in ChampionX by 0.5% during the 1st quarter. BlackRock Inc. now owns 24,501,257 shares of the company’s stock worth $599,791,000 after acquiring an additional 126,529 shares during the period. Great West Life Assurance Co. Can boosted its position in ChampionX by 8.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 110,119 shares of the company’s stock worth $2,768,000 after acquiring an additional 8,223 shares during the period. Yousif Capital Management LLC boosted its position in ChampionX by 2.3% during the 1st quarter. Yousif Capital Management LLC now owns 109,208 shares of the company’s stock worth $2,673,000 after acquiring an additional 2,439 shares during the period. Finally, Sei Investments Co. boosted its position in ChampionX by 17.8% during the 1st quarter. Sei Investments Co. now owns 694,766 shares of the company’s stock worth $17,014,000 after acquiring an additional 104,849 shares during the period. Hedge funds and other institutional investors own 98.99% of the company’s stock.
ChampionX Stock Up 1.1 %
CHX opened at $36.45 on Wednesday. The business has a 50 day moving average price of $33.83 and a 200 day moving average price of $30.02. ChampionX Co. has a twelve month low of $17.83 and a twelve month high of $37.02. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.09 and a current ratio of 1.82. The firm has a market cap of $7.17 billion, a P/E ratio of 29.63, a price-to-earnings-growth ratio of 0.69 and a beta of 2.60.
ChampionX Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 7th were given a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 0.93%. The ex-dividend date was Thursday, July 6th. ChampionX’s dividend payout ratio is currently 27.64%.
Insiders Place Their Bets
In other ChampionX news, CEO Sivasankaran Somasundaram sold 14,326 shares of ChampionX stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $34.00, for a total value of $487,084.00. Following the transaction, the chief executive officer now directly owns 476,786 shares of the company’s stock, valued at approximately $16,210,724. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other ChampionX news, insider Deric D. Bryant sold 173,705 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $35.05, for a total value of $6,088,360.25. Following the transaction, the insider now owns 354,934 shares of the company’s stock, valued at $12,440,436.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sivasankaran Somasundaram sold 14,326 shares of the business’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $34.00, for a total value of $487,084.00. Following the completion of the transaction, the chief executive officer now directly owns 476,786 shares in the company, valued at approximately $16,210,724. The disclosure for this sale can be found here. Insiders have sold a total of 214,206 shares of company stock valued at $7,498,890 in the last three months. Company insiders own 1.22% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on CHX shares. Barclays lifted their price target on ChampionX from $32.00 to $33.00 in a report on Wednesday, July 26th. Piper Sandler lifted their price target on ChampionX from $36.00 to $42.00 in a report on Wednesday, July 26th. Finally, Capital One Financial started coverage on ChampionX in a report on Friday, July 14th. They set an “overweight” rating and a $40.00 price target for the company. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, ChampionX currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.40.
View Our Latest Report on ChampionX
About ChampionX
ChampionX Corporation provides chemistry solutions, 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.
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