AMG National Trust Bank Buys 2,074 Shares of ChampionX Co. (NASDAQ:CHX)

AMG National Trust Bank increased its stake in ChampionX Co. (NASDAQ:CHX) by 7.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,517 shares of the company’s stock after purchasing an additional 2,074 shares during the period. AMG National Trust Bank’s holdings in ChampionX were worth $1,013,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of ChampionX by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 20,033,091 shares of the company’s stock worth $585,167,000 after buying an additional 62,967 shares during the last quarter. Brown Advisory Inc. grew its holdings in ChampionX by 1.8% during the 4th quarter. Brown Advisory Inc. now owns 6,364,676 shares of the company’s stock worth $185,912,000 after acquiring an additional 110,956 shares during the period. Congress Asset Management Co. MA raised its position in shares of ChampionX by 2.1% during the 1st quarter. Congress Asset Management Co. MA now owns 3,991,117 shares of the company’s stock valued at $143,241,000 after acquiring an additional 80,626 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of ChampionX by 2.6% in the 1st quarter. Bessemer Group Inc. now owns 3,842,425 shares of the company’s stock valued at $137,905,000 after purchasing an additional 99,100 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of ChampionX by 11.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,433,718 shares of the company’s stock worth $100,305,000 after purchasing an additional 349,035 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler decreased 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $39.00.

ChampionX Stock Up 2.4 %

CHX stock traded up $0.74 during midday trading on Friday, hitting $31.94. The company’s stock had a trading volume of 1,016,640 shares, compared to its average volume of 1,920,813. The company’s fifty day moving average price is $32.56 and its 200 day moving average price is $33.04. ChampionX Co. has a twelve month low of $25.46 and a twelve month high of $39.95. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.99 and a quick ratio of 1.25. The stock has a market capitalization of $6.08 billion, a P/E ratio of 17.36, a PEG ratio of 1.37 and a beta of 2.41.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings results 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 return on equity of 19.72% and a net margin of 8.66%. The company had revenue of $893.30 million for the quarter, compared to analyst estimates of $954.91 million. During the same period last year, the firm earned $0.48 EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities research analysts predict that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a $0.095 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.19%. ChampionX’s payout ratio is 20.65%.

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.