ChampionX Co. (NASDAQ:CHX) is Paradice Investment Management LLC’s 6th Largest Position

Paradice Investment Management LLC lowered its position in shares of ChampionX Co. (NASDAQ:CHX) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 884,471 shares of the company’s stock after selling 11,552 shares during the quarter. ChampionX comprises approximately 5.2% of Paradice Investment Management LLC’s portfolio, making the stock its 6th biggest position. Paradice Investment Management LLC’s holdings in ChampionX were worth $29,373,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CHX. Hawk Ridge Capital Management LP purchased a new position in shares of ChampionX in the 4th quarter worth about $67,592,000. Picton Mahoney Asset Management bought a new stake in ChampionX in the 2nd quarter worth about $19,442,000. Scout Investments Inc. bought a new stake in ChampionX in the 1st quarter worth about $18,957,000. Norges Bank bought a new stake in ChampionX in the 4th quarter worth about $11,182,000. Finally, Dimensional Fund Advisors LP increased its holdings in ChampionX by 11.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,433,718 shares of the company’s stock worth $100,305,000 after buying an additional 349,035 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their price objective on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, ChampionX currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

ChampionX Stock Performance

Shares of ChampionX stock traded down $0.06 during trading hours on Monday, reaching $31.13. 1,631,500 shares of the stock traded hands, compared to its average volume of 1,906,843. The company has a 50 day moving average price of $32.57 and a 200 day moving average price of $33.16. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 1.25 and a beta of 2.41. ChampionX Co. has a one year low of $25.46 and a one year high of $39.95. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.34.

ChampionX (NASDAQ:CHX) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.11). The firm had revenue of $893.30 million for the quarter, compared to the consensus estimate of $954.91 million. ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 earnings per share. On average, equities research analysts expect that ChampionX Co. will post 1.99 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.095 per share. The ex-dividend date is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.22%. ChampionX’s dividend payout ratio is currently 20.65%.

ChampionX 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.