5,340 Shares in ChampionX Co. (NASDAQ:CHX) Purchased by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC bought a new stake in shares of ChampionX Co. (NASDAQ:CHX) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 5,340 shares of the company’s stock, valued at approximately $156,000.

Several other institutional investors and hedge funds also recently modified their holdings of CHX. FMR LLC raised its holdings in ChampionX by 20.2% in the 3rd quarter. FMR LLC now owns 7,109,432 shares of the company’s stock valued at $253,238,000 after acquiring an additional 1,193,122 shares during the last quarter. Congress Asset Management Co. MA grew its stake in shares of ChampionX by 114.0% during the third quarter. Congress Asset Management Co. MA now owns 4,172,230 shares of the company’s stock valued at $148,615,000 after acquiring an additional 2,222,224 shares in the last quarter. Invesco Ltd. increased its position in shares of ChampionX by 5.3% in the 3rd quarter. Invesco Ltd. now owns 3,121,545 shares of the company’s stock worth $111,189,000 after purchasing an additional 157,788 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in ChampionX by 28.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,426,407 shares of the company’s stock worth $86,429,000 after purchasing an additional 538,555 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of ChampionX by 1.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,598,635 shares of the company’s stock valued at $46,696,000 after acquiring an additional 24,854 shares during the period. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Insider Buying and Selling

In related news, insider William Jr. O’dell sold 27,178 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $36.00, for a total transaction of $978,408.00. Following the completion of the transaction, the insider now owns 57,748 shares of the company’s stock, valued at $2,078,928. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays raised their target price on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Citigroup increased their target price on ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Finally, Piper Sandler upped their target price on shares of ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.33.

ChampionX Trading Up 0.5 %

Shares of ChampionX stock traded up $0.16 during trading on Monday, hitting $33.76. The company’s stock had a trading volume of 2,080,560 shares, compared to its average volume of 2,056,016. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 18.37, a price-to-earnings-growth ratio of 1.06 and a beta of 2.45. ChampionX Co. has a 52 week low of $24.98 and a 52 week high of $39.95. The stock has a 50-day moving average price of $34.59 and a two-hundred day moving average price of $31.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.83 and a quick ratio of 1.16.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. The business had revenue of $922.14 million for the quarter, compared to analysts’ expectations of $922.13 million. Equities research analysts anticipate that ChampionX Co. will post 1.95 EPS for the current fiscal year.

ChampionX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 5th were given a dividend of $0.095 per share. This is a positive change from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Thursday, April 4th. ChampionX’s dividend payout ratio (DPR) is presently 20.65%.

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.