Congress Asset Management Co. MA Has $114.23 Million Holdings in ChampionX Co. (NASDAQ:CHX)

Congress Asset Management Co. MA lessened its holdings in shares of ChampionX Co. (NASDAQ:CHXFree Report) by 6.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,910,491 shares of the company’s stock after selling 261,739 shares during the quarter. Congress Asset Management Co. MA’s holdings in ChampionX were worth $114,225,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky boosted its position in shares of ChampionX by 91.0% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 68,526 shares of the company’s stock worth $2,441,000 after acquiring an additional 32,657 shares in the last quarter. Seven Eight Capital LP acquired a new stake in shares of ChampionX during the 3rd quarter worth approximately $250,000. Westfield Capital Management Co. LP boosted its position in shares of ChampionX by 27.3% during the 4th quarter. Westfield Capital Management Co. LP now owns 891,381 shares of the company’s stock worth $26,037,000 after acquiring an additional 190,928 shares in the last quarter. Stifel Financial Corp boosted its position in shares of ChampionX by 24.4% during the 4th quarter. Stifel Financial Corp now owns 226,181 shares of the company’s stock worth $6,607,000 after acquiring an additional 44,300 shares in the last quarter. Finally, Prudential PLC acquired a new stake in shares of ChampionX during the 3rd quarter worth approximately $788,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Price Performance

ChampionX stock traded down $0.77 during mid-day trading on Friday, reaching $30.19. The company had a trading volume of 3,693,094 shares, compared to its average volume of 1,521,562. The business has a fifty day simple moving average of $33.97 and a 200 day simple moving average of $31.62. The company has a market cap of $5.75 billion, a P/E ratio of 16.41, a P/E/G ratio of 1.28 and a beta of 2.39. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35.

ChampionX (NASDAQ:CHXGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.10. The firm had revenue of $922.14 million during the quarter, compared to the consensus estimate of $922.13 million. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. On average, equities research analysts predict that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, July 5th. ChampionX’s payout ratio is currently 20.65%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CHX shares. Barclays increased their price target on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Piper Sandler raised their target price 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. Finally, Citigroup raised their target price 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $40.33.

Read Our Latest Stock Analysis on ChampionX

Insider Activity

In related news, insider William Jr. O’dell sold 27,178 shares of ChampionX 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 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 legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.38% of the company’s stock.

ChampionX Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ChampionX (NASDAQ:CHX)

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