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

MeadowBrook Investment Advisors LLC bought a new position in shares of ChampionX Co. (NASDAQ:CHX) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 5,340 shares of the company’s stock, valued at approximately $156,000.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC bought a new stake in ChampionX in the fourth quarter valued at approximately $26,000. Parkside Financial Bank & Trust raised its stake in shares of ChampionX by 19.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock worth $77,000 after purchasing an additional 352 shares in the last quarter. Mendota Financial Group LLC acquired a new stake in shares of ChampionX in the 4th quarter valued at approximately $114,000. SG Americas Securities LLC grew its stake in shares of ChampionX by 16.9% in the third quarter. SG Americas Securities LLC now owns 4,479 shares of the company’s stock valued at $160,000 after buying an additional 649 shares in the last quarter. Finally, Prudent Man Advisors LLC bought a new stake in ChampionX during the third quarter worth $201,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

Insiders Place Their Bets

In other ChampionX news, insider William Jr. O’dell sold 27,178 shares of the company’s stock in a transaction 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 sale, the insider now owns 57,748 shares of the company’s stock, valued at $2,078,928. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.38% of the company’s stock.

ChampionX Price Performance

Shares of NASDAQ CHX traded up $0.16 during mid-day trading on Monday, reaching $33.76. The company had a trading volume of 2,080,560 shares, compared to its average volume of 2,056,016. ChampionX Co. has a one year low of $24.98 and a one year high of $39.95. The business’s 50-day simple moving average is $34.59 and its 200 day simple moving average is $31.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.83. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.06 and a beta of 2.45.

ChampionX (NASDAQ:CHX) last posted its earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The firm had revenue of $922.14 million for the quarter, compared to analysts’ expectations of $922.13 million. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. On average, research analysts predict that ChampionX Co. will post 1.95 earnings per share for the current fiscal year.

ChampionX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 5th were issued a $0.095 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This is a boost from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 annualized dividend and a yield of 1.13%. ChampionX’s dividend payout ratio is presently 20.65%.

Analysts Set New Price Targets

CHX has been the topic of several recent analyst reports. Barclays boosted their price objective on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Citigroup lifted their price objective on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Finally, Piper Sandler increased their price objective on shares of ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.33.

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.