Ameritas Investment Partners Inc. Has $2.22 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Ameritas Investment Partners Inc. reduced its holdings in ChampionX Co. (NASDAQ:CHX) by 1.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 61,974 shares of the company’s stock after selling 871 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in ChampionX were worth $2,224,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in ChampionX in the 1st quarter valued at approximately $27,000. GAMMA Investing LLC acquired a new stake in shares of ChampionX during the fourth quarter worth $26,000. Rise Advisors LLC acquired a new stake in shares of ChampionX during the first quarter worth $35,000. Quadrant Capital Group LLC increased its position in shares of ChampionX by 37.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company’s stock worth $89,000 after buying an additional 831 shares during the period. Finally, Principal Securities Inc. acquired a new stake in shares of ChampionX during the fourth quarter worth $91,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CHX shares. Barclays increased their price objective on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Piper Sandler reduced their price target on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Finally, Citigroup raised their price target on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.00.

ChampionX Stock Down 0.6 %

NASDAQ:CHX traded down $0.21 during trading hours on Tuesday, reaching $34.77. The company had a trading volume of 1,689,300 shares, compared to its average volume of 1,978,754. The company has a quick ratio of 1.16, a current ratio of 1.83 and a debt-to-equity ratio of 0.35. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 1.46 and a beta of 2.41. The business’s 50-day simple moving average is $32.68 and its two-hundred day simple moving average is $32.24. ChampionX Co. has a twelve month low of $25.46 and a twelve month high of $39.95.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.50 EPS for the quarter, topping 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 analysts’ expectations of $922.13 million. On average, equities analysts expect that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, July 5th. ChampionX’s dividend payout ratio (DPR) 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.