ChampionX Co. (NASDAQ:CHX) Stock Holdings Trimmed by Norden Group LLC

Norden Group LLC decreased its holdings in ChampionX Co. (NASDAQ:CHX) by 42.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,802 shares of the company’s stock after selling 8,722 shares during the quarter. Norden Group LLC’s holdings in ChampionX were worth $345,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Parkside Financial Bank & Trust lifted its position in ChampionX by 19.4% in the third quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock worth $77,000 after purchasing an additional 352 shares during the period. AMG National Trust Bank boosted its stake in ChampionX by 1.0% during the third quarter. AMG National Trust Bank now owns 39,832 shares of the company’s stock valued at $1,419,000 after buying an additional 380 shares in the last quarter. United Services Automobile Association grew its holdings in ChampionX by 4.1% during the third quarter. United Services Automobile Association now owns 13,913 shares of the company’s stock worth $496,000 after acquiring an additional 547 shares during the period. SG Americas Securities LLC raised its position in ChampionX by 16.9% in the third quarter. SG Americas Securities LLC now owns 4,479 shares of the company’s stock worth $160,000 after acquiring an additional 649 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in ChampionX by 1.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 37,026 shares of the company’s stock valued at $1,319,000 after acquiring an additional 650 shares during the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on CHX. Barclays boosted their target price on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Citigroup upped their price target on ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Finally, Piper Sandler raised their price objective on ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.33.

Insider Transactions at ChampionX

In other news, insider William Jr. O’dell sold 27,178 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $36.00, for a total transaction of $978,408.00. Following the transaction, the insider now directly owns 57,748 shares in the company, valued at approximately $2,078,928. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.38% of the stock is owned by insiders.

ChampionX Stock Performance

ChampionX stock opened at $33.20 on Thursday. The firm’s 50 day simple moving average is $34.42 and its 200-day simple moving average is $31.14. ChampionX Co. has a fifty-two week low of $24.98 and a fifty-two week high of $39.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.83 and a quick ratio of 1.16. The company has a market cap of $6.32 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 1.09 and a beta of 2.44.

ChampionX (NASDAQ:CHX) last announced its earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.10. The company had revenue of $922.14 million for the quarter, compared to the consensus estimate of $922.13 million. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. As a group, equities research analysts predict that ChampionX Co. will post 1.95 EPS for the current year.

ChampionX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 5th were paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.14%. The ex-dividend date was Thursday, April 4th. This is a boost from ChampionX’s previous quarterly dividend of $0.09. ChampionX’s payout ratio is 20.65%.

ChampionX 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.