Principal Financial Group Inc. Trims Stock Position in ChampionX Co. (NASDAQ:CHX)

Principal Financial Group Inc. decreased its position in ChampionX Co. (NASDAQ:CHX) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,878,754 shares of the company’s stock after selling 108,830 shares during the period. Principal Financial Group Inc.’s holdings in ChampionX were worth $51,084,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHX. Van ECK Associates Corp boosted its position in ChampionX by 0.3% during the fourth quarter. Van ECK Associates Corp now owns 2,639,352 shares of the company’s stock worth $71,764,000 after acquiring an additional 9,056 shares during the last quarter. Quest Partners LLC boosted its holdings in ChampionX by 86.8% in the 3rd quarter. Quest Partners LLC now owns 69,102 shares of the company’s stock valued at $2,083,000 after purchasing an additional 32,103 shares during the last quarter. State Street Corp boosted its holdings in ChampionX by 1.7% in the 3rd quarter. State Street Corp now owns 7,422,097 shares of the company’s stock valued at $223,776,000 after purchasing an additional 122,622 shares during the last quarter. Barclays PLC boosted its holdings in ChampionX by 147.2% in the 3rd quarter. Barclays PLC now owns 357,081 shares of the company’s stock valued at $10,766,000 after purchasing an additional 212,654 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in ChampionX by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,617,387 shares of the company’s stock valued at $139,239,000 after purchasing an additional 63,119 shares during the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Analyst Ratings Changes

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

ChampionX Price Performance

Shares of CHX opened at $30.21 on Friday. ChampionX Co. has a fifty-two week low of $25.57 and a fifty-two week high of $39.95. The firm’s 50 day moving average price is $28.49 and its 200 day moving average price is $29.75. The company has a market cap of $5.76 billion, a P/E ratio of 18.31 and a beta of 2.35. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. On average, research analysts forecast that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 3rd were issued a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, January 3rd. ChampionX’s payout ratio is 23.03%.

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.