Legend Financial Advisors Inc. Increases Position in ChampionX Co. (NASDAQ:CHX)

Legend Financial Advisors Inc. boosted its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,472 shares of the company’s stock after purchasing an additional 340 shares during the quarter. ChampionX makes up 0.5% of Legend Financial Advisors Inc.’s holdings, making the stock its 25th largest position. Legend Financial Advisors Inc.’s holdings in ChampionX were worth $713,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of ChampionX by 6.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 526,091 shares of the company’s stock valued at $18,881,000 after purchasing an additional 32,860 shares during the period. Avantax Advisory Services Inc. acquired a new stake in ChampionX in the 1st quarter worth about $587,000. Sei Investments Co. increased its stake in ChampionX by 18.0% during the 1st quarter. Sei Investments Co. now owns 798,936 shares of the company’s stock worth $28,674,000 after buying an additional 121,700 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of ChampionX by 27.3% during the fourth quarter. Westfield Capital Management Co. LP now owns 891,381 shares of the company’s stock valued at $26,037,000 after acquiring an additional 190,928 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of ChampionX by 7.2% in the fourth quarter. Fisher Asset Management LLC now owns 365,798 shares of the company’s stock valued at $10,685,000 after acquiring an additional 24,662 shares in the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

ChampionX Trading Down 3.0 %

CHX traded down $0.97 on Wednesday, hitting $30.90. The company had a trading volume of 1,255,668 shares, compared to its average volume of 1,908,170. The company has a current ratio of 1.99, a quick ratio of 1.25 and a debt-to-equity ratio of 0.34. The firm has a market cap of $5.88 billion, a P/E ratio of 16.79, a PEG ratio of 1.37 and a beta of 2.41. The company’s fifty day moving average price is $32.61 and its 200 day moving average price is $33.11. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95.

ChampionX (NASDAQ:CHX) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.11). ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The company had revenue of $893.30 million during the quarter, compared to analysts’ expectations of $954.91 million. During the same period last year, the firm posted $0.48 earnings per share. ChampionX’s revenue was down 3.6% on a year-over-year basis. As a group, equities analysts expect that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, October 4th. ChampionX’s dividend payout ratio is currently 20.65%.

Analysts Set New Price Targets

Separately, Piper Sandler dropped their price target on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, ChampionX has a consensus rating of “Moderate Buy” and an average price target of $39.00.

About ChampionX

ChampionX Corporation provides chemistry solutions, artificial lift systems, 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.