Hudson Edge Investment Partners Inc. Sells 2,133 Shares of ChampionX Co. (NASDAQ:CHX)

Hudson Edge Investment Partners Inc. decreased its position in ChampionX Co. (NASDAQ:CHX) by 12.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 14,450 shares of the company’s stock after selling 2,133 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in ChampionX were worth $480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of ChampionX by 6.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 526,091 shares of the company’s stock valued at $18,881,000 after purchasing an additional 32,860 shares during the period. Avantax Advisory Services Inc. acquired a new position in shares of ChampionX during the 1st quarter worth about $587,000. Sei Investments Co. grew its position in shares of ChampionX by 18.0% during the 1st quarter. Sei Investments Co. now owns 798,936 shares of the company’s stock worth $28,674,000 after buying an additional 121,700 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of ChampionX by 27.3% in the 4th quarter. Westfield Capital Management Co. LP now owns 891,381 shares of the company’s stock valued at $26,037,000 after acquiring an additional 190,928 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of ChampionX by 7.2% in the 4th quarter. Fisher Asset Management LLC now owns 365,798 shares of the company’s stock valued at $10,685,000 after acquiring an additional 24,662 shares during the period. 98.99% of the stock is currently owned by institutional investors and hedge funds.

ChampionX Stock Down 1.7 %

Shares of NASDAQ CHX traded down $0.51 during mid-day trading on Friday, reaching $28.86. 1,379,388 shares of the company’s stock were exchanged, compared to its average volume of 1,890,251. ChampionX Co. has a twelve month low of $25.46 and a twelve month high of $39.95. The company has a current ratio of 1.99, a quick ratio of 1.25 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 1.25 and a beta of 2.37. The business has a fifty day simple moving average of $32.23 and a 200 day simple moving average of $33.13.

ChampionX (NASDAQ:CHX) last announced its earnings results on Wednesday, July 24th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.11). The company had revenue of $893.30 million for the quarter, compared to analyst estimates of $954.91 million. ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.48 earnings per share. As a group, equities analysts expect that ChampionX Co. will post 1.99 EPS for the current fiscal year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Friday, October 4th. ChampionX’s dividend payout ratio (DPR) is presently 20.65%.

Analyst Ratings Changes

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