ChampionX Co. (NASDAQ:CHX) Stock Position Increased by Slotnik Capital LLC

Slotnik Capital LLC raised its stake in shares of ChampionX Co. (NASDAQ:CHX) by 9.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 580,696 shares of the company’s stock after buying an additional 50,362 shares during the quarter. ChampionX comprises approximately 5.9% of Slotnik Capital LLC’s holdings, making the stock its 8th largest position. Slotnik Capital LLC owned about 0.30% of ChampionX worth $17,508,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. grew its stake in ChampionX by 442.4% in the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock worth $44,000 after purchasing an additional 1,084 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in ChampionX during the second quarter worth $68,000. UMB Bank n.a. lifted its holdings in ChampionX by 63.7% during the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after buying an additional 882 shares during the period. KBC Group NV lifted its holdings in ChampionX by 18.3% during the third quarter. KBC Group NV now owns 5,827 shares of the company’s stock worth $176,000 after buying an additional 903 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in ChampionX during the second quarter worth $194,000. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Deric D. Bryant sold 49,303 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total value of $1,482,048.18. Following the completion of the sale, the insider now directly owns 337,409 shares of the company’s stock, valued at approximately $10,142,514.54. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.38% of the company’s stock.

ChampionX Stock Up 0.8 %

ChampionX stock opened at $30.95 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average of $30.53 and a two-hundred day moving average of $31.49. ChampionX Co. has a twelve month low of $25.46 and a twelve month high of $39.95. The firm has a market cap of $5.90 billion, a P/E ratio of 19.22 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $906.53 million during the quarter, compared to analyst estimates of $916.50 million. ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The business’s revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS. On average, analysts forecast that ChampionX Co. will post 1.66 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be paid a dividend of $0.095 per share. The ex-dividend date is Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.23%. ChampionX’s payout ratio is currently 23.60%.

Analysts Set New Price Targets

Separately, Citigroup lowered their target price on ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

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.