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

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

ChampionX Stock Up 1.2 %

Shares of CHX opened at $35.89 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36. 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. The firm’s 50 day moving average is $30.56 and its 200-day moving average is $31.05. ChampionX Co. has a 12 month low of $24.98 and a 12 month high of $38.37.

ChampionX (NASDAQ:CHX) last posted 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. The business had revenue of $943.56 million during the quarter, compared to the consensus estimate of $947.33 million. ChampionX had a return on equity of 20.14% and a net margin of 8.36%. ChampionX’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Equities research analysts forecast that ChampionX Co. will post 1.95 EPS for the current year.

ChampionX Increases Dividend

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

Institutional Trading of ChampionX

Several institutional investors and hedge funds have recently modified their holdings of CHX. GAMMA Investing LLC acquired a new position in ChampionX during the fourth quarter worth about $26,000. Pinebridge Investments L.P. lifted its stake in ChampionX by 1,075.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,175 shares of the company’s stock valued at $36,000 after purchasing an additional 1,075 shares during the last quarter. NewEdge Advisors LLC boosted its position in ChampionX by 654.0% in the first quarter. NewEdge Advisors LLC now owns 1,870 shares of the company’s stock valued at $51,000 after buying an additional 1,622 shares in the last quarter. Covestor Ltd grew its stake in shares of ChampionX by 683.0% during the first quarter. Covestor Ltd now owns 2,216 shares of the company’s stock worth $54,000 after buying an additional 1,933 shares during the last quarter. Finally, West Tower Group LLC increased its holdings in shares of ChampionX by 43.0% during the fourth quarter. West Tower Group LLC now owns 1,955 shares of the company’s stock worth $57,000 after buying an additional 588 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CHX has been the subject of several research analyst reports. Citigroup lifted their target price on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler cut ChampionX from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $38.00 to $32.00 in a report on Monday, January 8th. Two investment 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, ChampionX has a consensus rating of “Moderate Buy” and an average target price of $37.50.

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.