Cwm LLC Decreases Stake in ChampionX Co. (NASDAQ:CHX)

Cwm LLC lowered its stake in ChampionX Co. (NASDAQ:CHX) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,601 shares of the company’s stock after selling 7,184 shares during the period. Cwm LLC owned 0.06% of ChampionX worth $3,523,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parkside Financial Bank & Trust raised its holdings in shares of ChampionX by 19.4% during the third quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock worth $77,000 after purchasing an additional 352 shares during the last quarter. AMG National Trust Bank raised its holdings 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 purchasing an additional 380 shares during the last quarter. United Services Automobile Association raised its holdings in shares of ChampionX by 4.1% during the third quarter. United Services Automobile Association now owns 13,913 shares of the company’s stock worth $496,000 after purchasing an additional 547 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of ChampionX by 16.9% during the third quarter. SG Americas Securities LLC now owns 4,479 shares of the company’s stock worth $160,000 after purchasing an additional 649 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in ChampionX by 1.8% during the third quarter. Los Angeles Capital Management LLC now owns 37,026 shares of the company’s stock valued at $1,319,000 after buying an additional 650 shares during the period. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CHX. Piper Sandler raised their price target 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. Barclays raised their price target on shares of ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, Citigroup raised 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.33.

Insiders Place Their Bets

In other ChampionX news, insider William Jr. O’dell sold 27,178 shares of ChampionX stock in a transaction dated 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 directly 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 available through the SEC website. 1.38% of the stock is owned by insiders.

ChampionX Stock Performance

CHX opened at $34.65 on Thursday. The firm has a market capitalization of $6.62 billion, a PE ratio of 22.07, a PEG ratio of 1.11 and a beta of 2.44. ChampionX Co. has a twelve month low of $24.98 and a twelve month high of $39.95. The firm’s 50-day moving average price is $34.06 and its 200 day moving average price is $31.15. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36.

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

ChampionX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be paid a dividend of $0.095 per share. The ex-dividend date is Thursday, April 4th. This is an increase from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 dividend on an annualized basis and a yield of 1.10%. ChampionX’s payout ratio is 24.20%.

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.