ChampionX Co. (NASDAQ:CHX) Insider Deric D. Bryant Sells 49,303 Shares

ChampionX Co. (NASDAQ:CHX) insider Deric D. Bryant sold 49,303 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the sale, the insider now directly owns 337,409 shares of the company’s stock, valued at $10,142,514.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

ChampionX Stock Performance

Shares of CHX stock traded down $0.57 during mid-day trading on Thursday, reaching $30.86. 1,340,383 shares of the company’s stock traded hands, compared to its average volume of 1,873,211. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. The firm has a market capitalization of $5.88 billion, a PE ratio of 19.52 and a beta of 2.38. ChampionX Co. has a 12 month low of $25.46 and a 12 month high of $39.95. The firm has a 50 day moving average price of $30.09 and a two-hundred day moving average price of $31.84.

ChampionX (NASDAQ:CHX) last released its earnings results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The firm had revenue of $906.53 million for the quarter, compared to the consensus estimate of $916.50 million. ChampionX had a return on equity of 19.74% and a net margin of 8.59%. ChampionX’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 EPS. On average, research analysts forecast that ChampionX Co. will post 1.66 EPS for the current year.

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were paid a $0.095 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.38 annualized dividend and a yield of 1.23%. ChampionX’s payout ratio is 23.60%.

Hedge Funds Weigh In On ChampionX

Several hedge funds have recently modified their holdings of CHX. Bessemer Group Inc. grew its stake in shares of ChampionX by 2.6% in the 1st quarter. Bessemer Group Inc. now owns 3,842,425 shares of the company’s stock worth $137,905,000 after buying an additional 99,100 shares in the last quarter. Millennium Management LLC increased its position in ChampionX by 12,607.0% during the second quarter. Millennium Management LLC now owns 3,120,847 shares of the company’s stock valued at $103,643,000 after acquiring an additional 3,096,287 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of ChampionX in the second quarter valued at $72,860,000. Fiera Capital Corp boosted its stake in shares of ChampionX by 1.2% during the 2nd quarter. Fiera Capital Corp now owns 1,299,611 shares of the company’s stock worth $43,160,000 after purchasing an additional 15,326 shares during the period. Finally, Earnest Partners LLC raised its holdings in shares of ChampionX by 32.9% in the first quarter. Earnest Partners LLC now owns 1,164,876 shares of the company’s stock worth $41,807,000 after buying an additional 288,224 shares during the period. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler lowered their price target on ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, July 15th.

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.