ChampionX (NASDAQ:CHX) Hits New 1-Year Low – What’s Next?

Shares of ChampionX Co. (NASDAQ:CHX) reached a new 52-week low on Friday . The company traded as low as $25.50 and last traded at $25.42, with a volume of 355887 shares. The stock had previously closed at $27.55.

ChampionX Price Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99. The stock has a 50-day simple moving average of $29.35 and a 200 day simple moving average of $29.50. The company has a market cap of $4.68 billion, a P/E ratio of 14.79 and a beta of 2.28.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. On average, equities analysts expect that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a $0.095 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.55%. ChampionX’s payout ratio is 23.03%.

Institutional Trading of ChampionX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its position in shares of ChampionX by 153.2% during the 4th quarter. Jones Financial Companies Lllp now owns 924 shares of the company’s stock worth $25,000 after buying an additional 559 shares during the period. Venturi Wealth Management LLC increased its holdings in ChampionX by 1,051.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock valued at $51,000 after purchasing an additional 1,725 shares during the last quarter. R Squared Ltd bought a new position in ChampionX during the fourth quarter worth about $103,000. Vestcor Inc increased its stake in shares of ChampionX by 71.6% in the 4th quarter. Vestcor Inc now owns 5,032 shares of the company’s stock valued at $137,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in ChampionX by 82,557.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company’s stock worth $157,000 after acquiring an additional 5,779 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.

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.