Federated Hermes Inc. Has $17.84 Million Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Federated Hermes Inc. grew its stake in shares of ChampionX Co. (NASDAQ:CHX) by 24.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 610,656 shares of the company’s stock after buying an additional 119,003 shares during the quarter. Federated Hermes Inc. owned approximately 0.31% of ChampionX worth $17,837,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its holdings in ChampionX by 19.4% in the third quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock valued at $77,000 after purchasing an additional 352 shares during the period. AMG National Trust Bank raised its position in shares of ChampionX by 1.0% during the third quarter. AMG National Trust Bank now owns 39,832 shares of the company’s stock worth $1,419,000 after acquiring an additional 380 shares during the last quarter. United Services Automobile Association lifted its stake in shares of ChampionX by 4.1% in the third quarter. United Services Automobile Association now owns 13,913 shares of the company’s stock worth $496,000 after acquiring an additional 547 shares during the period. SG Americas Securities LLC lifted 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 worth $160,000 after acquiring an additional 649 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in ChampionX by 1.8% in the third quarter. Los Angeles Capital Management LLC now owns 37,026 shares of the company’s stock valued at $1,319,000 after acquiring an additional 650 shares during the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

ChampionX Stock Down 0.8 %

Shares of NASDAQ CHX opened at $35.24 on Tuesday. ChampionX Co. has a 12-month low of $24.98 and a 12-month high of $39.95. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.36. The firm has a market cap of $6.73 billion, a PE ratio of 22.45, a P/E/G ratio of 1.12 and a beta of 2.44. The company’s fifty day simple moving average is $33.81 and its 200 day simple moving average is $31.12.

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

ChampionX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.08%. This is a positive change from ChampionX’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, April 4th. ChampionX’s dividend payout ratio is presently 24.20%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

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 transaction, the insider now owns 57,748 shares in the company, valued at $2,078,928. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.38% of the stock is owned by company insiders.

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.