Healthcare of Ontario Pension Plan Trust Fund Grows Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of ChampionX Co. (NASDAQ:CHX) by 18.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 295,105 shares of the company’s stock after purchasing an additional 45,105 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.15% of ChampionX worth $8,897,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CHX. Quantbot Technologies LP purchased a new stake in shares of ChampionX in the third quarter valued at about $2,054,000. Fisher Asset Management LLC raised its holdings in shares of ChampionX by 7.7% in the third quarter. Fisher Asset Management LLC now owns 347,880 shares of the company’s stock valued at $10,489,000 after buying an additional 24,862 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of ChampionX by 4.6% in the third quarter. Westfield Capital Management Co. LP now owns 1,133,863 shares of the company’s stock valued at $34,186,000 after buying an additional 50,120 shares during the last quarter. Algert Global LLC raised its holdings in shares of ChampionX by 5.0% in the third quarter. Algert Global LLC now owns 188,309 shares of the company’s stock valued at $5,678,000 after buying an additional 8,914 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of ChampionX by 291.8% in the third quarter. Cerity Partners LLC now owns 152,038 shares of the company’s stock valued at $4,584,000 after buying an additional 113,232 shares during the last quarter. 98.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ChampionX

In related news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total value of $1,482,048.18. Following the transaction, the insider now directly owns 337,409 shares of the company’s stock, valued at approximately $10,142,514.54. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Citigroup dropped their price target on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th.

ChampionX Trading Up 0.8 %

Shares of CHX opened at $30.95 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average is $30.53 and its two-hundred day moving average is $31.49. ChampionX Co. has a twelve month low of $25.46 and a twelve month high of $39.95. The firm has a market capitalization of $5.90 billion, a P/E ratio of 19.22 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The business had revenue of $906.53 million during the quarter, compared to analysts’ expectations of $916.50 million. During the same period last year, the company earned $0.41 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, research analysts predict that ChampionX Co. will post 1.66 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, January 3rd. ChampionX’s payout ratio is 23.60%.

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.