64,436 Shares in ChampionX Co. (NASDAQ:CHX) Purchased by Headlands Technologies LLC

Headlands Technologies LLC bought a new position in shares of ChampionX Co. (NASDAQ:CHX) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 64,436 shares of the company’s stock, valued at approximately $2,140,000.

A number of other institutional investors have also added to or reduced their stakes in CHX. Texas Permanent School Fund Corp increased its holdings in ChampionX by 26.0% during the second quarter. Texas Permanent School Fund Corp now owns 210,747 shares of the company’s stock valued at $6,999,000 after buying an additional 43,498 shares during the period. Choreo LLC purchased a new stake in shares of ChampionX during the second quarter valued at about $225,000. Quest Partners LLC boosted its holdings in shares of ChampionX by 99,897.3% in the 2nd quarter. Quest Partners LLC now owns 36,999 shares of the company’s stock valued at $1,229,000 after buying an additional 36,962 shares in the last quarter. Trium Capital LLP bought a new stake in shares of ChampionX in the 2nd quarter valued at about $697,000. Finally, Narwhal Capital Management grew its position in shares of ChampionX by 1.7% in the 2nd quarter. Narwhal Capital Management now owns 167,172 shares of the company’s stock worth $5,552,000 after buying an additional 2,723 shares during the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Price Performance

Shares of CHX stock opened at $28.20 on Wednesday. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.25 and a current ratio of 1.99. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.16 and a beta of 2.37. The stock’s 50-day simple moving average is $32.05 and its 200-day simple moving average is $33.12.

ChampionX (NASDAQ:CHX) last issued 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 for the quarter, compared to analyst estimates of $954.91 million. During the same quarter in the previous year, the company posted $0.48 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts forecast that ChampionX Co. will post 1.99 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Friday, October 4th. ChampionX’s payout ratio is 20.65%.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their target price on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

ChampionX Company Profile

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.