Park Place Capital Corp Has $70,000 Stake in ChampionX Co. (NASDAQ:CHX)

Park Place Capital Corp reduced its stake in shares of ChampionX Co. (NASDAQ:CHX) by 38.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,113 shares of the company’s stock after selling 1,298 shares during the quarter. Park Place Capital Corp’s holdings in ChampionX were worth $70,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC acquired a new position in ChampionX in the fourth quarter valued at about $26,000. Allspring Global Investments Holdings LLC acquired a new stake in ChampionX during the 1st quarter worth approximately $27,000. Rise Advisors LLC acquired a new stake in ChampionX during the 1st quarter worth approximately $35,000. Quadrant Capital Group LLC lifted its stake in ChampionX by 37.6% in the fourth quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company’s stock valued at $89,000 after buying an additional 831 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of ChampionX during the fourth quarter worth $91,000. 98.99% of the stock is owned by institutional investors.

ChampionX Stock Down 3.9 %

CHX traded down $1.30 during trading hours on Friday, hitting $31.77. 1,778,055 shares of the company’s stock were exchanged, compared to its average volume of 1,800,547. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.34. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95. The stock’s 50-day moving average is $32.69 and its two-hundred day moving average is $32.68. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.37 and a beta of 2.41.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.11). ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The company had revenue of $893.30 million during the quarter, compared to the consensus estimate of $954.91 million. During the same quarter in the previous year, the business earned $0.48 EPS. ChampionX’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts predict that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 5th were given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, July 5th. ChampionX’s dividend payout ratio (DPR) is 20.65%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their price objective on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

ChampionX Company 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.