ChampionX Co. (NASDAQ:CHX) Stake Cut by Leeward Investments LLC MA

Leeward Investments LLC MA trimmed its holdings in ChampionX Co. (NASDAQ:CHX) by 0.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 888,800 shares of the company’s stock after selling 3,931 shares during the period. ChampionX accounts for approximately 1.4% of Leeward Investments LLC MA’s portfolio, making the stock its 6th largest position. Leeward Investments LLC MA owned about 0.47% of ChampionX worth $31,899,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. GAMMA Investing LLC purchased a new position in ChampionX during the 4th quarter worth $26,000. Allspring Global Investments Holdings LLC acquired a new stake in ChampionX in the first quarter valued at about $27,000. Rise Advisors LLC purchased a new stake in ChampionX in the 1st quarter valued at approximately $35,000. Quadrant Capital Group LLC boosted its holdings in ChampionX by 37.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company’s stock valued at $89,000 after purchasing an additional 831 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in ChampionX during the 4th quarter worth approximately $91,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Stock Up 1.1 %

NASDAQ:CHX traded up $0.36 during trading hours on Thursday, hitting $33.37. The stock had a trading volume of 1,127,410 shares, compared to its average volume of 2,204,777. The company has a market cap of $6.35 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.37 and a beta of 2.41. The business has a 50 day simple moving average of $32.82 and a two-hundred day simple moving average of $31.91. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35.

ChampionX (NASDAQ:CHX) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. The business had revenue of $922.14 million during the quarter, compared to analyst estimates of $922.13 million. Analysts predict that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, July 5th. ChampionX’s dividend payout ratio (DPR) is currently 20.65%.

Analyst Ratings Changes

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

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.