Hancock Whitney Corp Has $757,000 Holdings in ChampionX Co. (NASDAQ:CHX)

Hancock Whitney Corp cut its stake in shares of ChampionX Co. (NASDAQ:CHX) by 50.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,101 shares of the company’s stock after selling 21,542 shares during the period. Hancock Whitney Corp’s holdings in ChampionX were worth $757,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Piper Sandler dropped their price objective on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $39.00.

ChampionX Stock Performance

Shares of ChampionX stock traded down $1.43 during trading on Thursday, hitting $32.83. 789,161 shares of the company’s stock were exchanged, compared to its average volume of 1,956,958. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 1.40 and a beta of 2.41. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.25 and a current ratio of 1.99. The business has a 50-day simple moving average of $32.70 and a 200-day simple moving average of $32.55. ChampionX Co. has a 52-week low of $25.46 and a 52-week high of $39.95.

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 analysts’ consensus estimates of $0.48 by ($0.11). The business had revenue of $893.30 million during the quarter, compared to analyst estimates of $954.91 million. ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 EPS. On average, research analysts forecast that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 5th were paid a dividend of $0.095 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.16%. ChampionX’s dividend payout ratio is currently 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.