Entropy Technologies LP Increases Stock Position in ChampionX Co. (NASDAQ:CHX)

Entropy Technologies LP lifted its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 131.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,233 shares of the company’s stock after buying an additional 30,246 shares during the period. Entropy Technologies LP’s holdings in ChampionX were worth $1,447,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Quest Partners LLC raised its position in ChampionX by 86.8% in the third quarter. Quest Partners LLC now owns 69,102 shares of the company’s stock worth $2,083,000 after acquiring an additional 32,103 shares in the last quarter. State Street Corp grew its stake in shares of ChampionX by 1.7% during the 3rd quarter. State Street Corp now owns 7,422,097 shares of the company’s stock worth $223,776,000 after purchasing an additional 122,622 shares during the period. Barclays PLC increased its holdings in shares of ChampionX by 147.2% in the 3rd quarter. Barclays PLC now owns 357,081 shares of the company’s stock valued at $10,766,000 after purchasing an additional 212,654 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of ChampionX by 1.4% in the third quarter. Geode Capital Management LLC now owns 4,617,387 shares of the company’s stock valued at $139,239,000 after purchasing an additional 63,119 shares during the period. Finally, Raymond James & Associates boosted its holdings in ChampionX by 3.1% during the third quarter. Raymond James & Associates now owns 225,285 shares of the company’s stock worth $6,792,000 after buying an additional 6,695 shares in the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Citigroup dropped their target price on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

ChampionX Trading Down 0.0 %

NASDAQ:CHX opened at $28.54 on Monday. ChampionX Co. has a 52-week low of $25.57 and a 52-week high of $39.95. The company has a quick ratio of 1.20, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $28.48 and a 200-day simple moving average of $29.94. The company has a market capitalization of $5.45 billion, a PE ratio of 17.30 and a beta of 2.35.

ChampionX (NASDAQ:CHX) last announced its earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. On average, equities research analysts expect that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 3rd were issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Friday, January 3rd. ChampionX’s dividend payout ratio (DPR) is presently 23.03%.

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.