ChampionX Co. (NASDAQ:CHX) Insider William Jr. O’dell Sells 27,178 Shares

ChampionX Co. (NASDAQ:CHX) insider William Jr. O’dell sold 27,178 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $36.00, for a total value of $978,408.00. Following the sale, the insider now directly owns 57,748 shares of the company’s stock, valued at approximately $2,078,928. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ChampionX Trading Up 1.2 %

Shares of CHX opened at $35.89 on Friday. ChampionX Co. has a fifty-two week low of $24.98 and a fifty-two week high of $38.37. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.15 and a current ratio of 1.82. The company’s fifty day moving average is $30.56 and its 200 day moving average is $31.05. The stock has a market capitalization of $6.85 billion, a PE ratio of 22.86, a P/E/G ratio of 1.12 and a beta of 2.43.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. ChampionX had a net margin of 8.36% and a return on equity of 20.14%. The firm had revenue of $943.56 million during the quarter, compared to the consensus estimate of $947.33 million. During the same quarter last year, the firm earned $0.43 EPS. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. Sell-side analysts expect that ChampionX Co. will post 1.95 earnings per share for the current fiscal year.

ChampionX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.06%. This is a boost from ChampionX’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, April 4th. ChampionX’s payout ratio is 21.66%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Hawk Ridge Capital Management LP purchased a new position in shares of ChampionX in the 4th quarter valued at $67,592,000. Congress Asset Management Co. MA lifted its holdings in shares of ChampionX by 114.0% during the 3rd quarter. Congress Asset Management Co. MA now owns 4,172,230 shares of the company’s stock valued at $148,615,000 after purchasing an additional 2,222,224 shares during the last quarter. FMR LLC lifted its holdings in shares of ChampionX by 20.2% during the 3rd quarter. FMR LLC now owns 7,109,432 shares of the company’s stock valued at $253,238,000 after purchasing an additional 1,193,122 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of ChampionX by 13.7% in the 2nd quarter. Alliancebernstein L.P. now owns 8,184,487 shares of the company’s stock worth $254,046,000 after purchasing an additional 988,872 shares in the last quarter. Finally, Earnest Partners LLC increased its position in ChampionX by 1,936,212.2% during the 4th quarter. Earnest Partners LLC now owns 793,888 shares of the company’s stock valued at $23,015,000 after buying an additional 793,847 shares in the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on CHX shares. Piper Sandler downgraded ChampionX from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $38.00 to $32.00 in a research note on Monday, January 8th. Citigroup increased their price objective on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

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.