ChampionX Co. (NASDAQ:CHX) Stock Holdings Lifted by Putnam Investments LLC

Posted by Defense World Staff on Sep 16th, 2023

Putnam Investments LLC raised its position in ChampionX Co. (NASDAQ:CHX – Free Report) by 24.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 508,068 shares of the company’s stock after purchasing an additional 101,431 shares during the quarter. Putnam Investments LLC owned approximately 0.26% of ChampionX worth $13,784,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CHX. Belpointe Asset Management LLC acquired a new stake in shares of ChampionX in the fourth quarter worth about $27,000. Massmutual Trust Co. FSB ADV lifted its position in shares of ChampionX by 1,500.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,696 shares of the company’s stock worth $46,000 after buying an additional 1,590 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of ChampionX by 654.0% in the first quarter. NewEdge Advisors LLC now owns 1,870 shares of the company’s stock worth $51,000 after buying an additional 1,622 shares during the last quarter. Covestor Ltd lifted its position in shares of ChampionX by 683.0% in 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 last quarter. Finally, CI Investments Inc. acquired a new stake in shares of ChampionX in the fourth quarter worth about $59,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CHX has been the subject of a number of analyst reports. Barclays boosted their price target on ChampionX from $32.00 to $33.00 in a research report on Wednesday, July 26th. Capital One Financial initiated coverage on ChampionX in a research report on Friday, July 14th. They issued an “overweight” rating and a $40.00 price target for the company. Finally, Piper Sandler boosted their price objective on ChampionX from $36.00 to $42.00 in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.40.

Check Out Our Latest Report on ChampionX

Insider Activity

In other news, insider Deric D. Bryant sold 173,705 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 354,934 shares in the company, valued at approximately $12,440,436.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Sivasankaran Somasundaram sold 7,404 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $35.00, for a total transaction of $259,140.00. Following the sale, the chief executive officer now directly owns 469,382 shares in the company, valued at approximately $16,428,370. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Deric D. Bryant sold 173,705 shares of the stock in a transaction that occurred 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 sale, the insider now owns 354,934 shares in the company, valued at $12,440,436.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 232,978 shares of company stock worth $8,194,768. Company insiders own 1.22% of the company’s stock.

ChampionX Trading Down 0.6 %

Shares of CHX opened at $37.25 on Friday. ChampionX Co. has a 12-month low of $17.83 and a 12-month high of $38.37. The company has a quick ratio of 1.09, a current ratio of 1.82 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $7.32 billion, a price-to-earnings ratio of 30.28, a P/E/G ratio of 0.73 and a beta of 2.59. The stock’s 50-day moving average price is $35.71 and its 200 day moving average price is $30.59.

ChampionX (NASDAQ:CHX – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. ChampionX had a return on equity of 19.42% and a net margin of 6.45%. The firm had revenue of $926.60 million for the quarter, compared to analyst estimates of $976.62 million. During the same period in the previous year, the company posted $0.28 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts predict that ChampionX Co. will post 1.85 earnings per share for the current year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be paid a $0.085 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.34 annualized dividend and a dividend yield of 0.91%. ChampionX’s dividend payout ratio is currently 27.64%.

ChampionX Profile

(Free Report)

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.