Rhumbline Advisers Sells 41,587 Shares of ChampionX Co. (NASDAQ:CHX)

Rhumbline Advisers lessened its stake in ChampionX Co. (NASDAQ:CHX) by 5.9% during the fourth quarter, Holdings Channel reports. The firm owned 665,674 shares of the company’s stock after selling 41,587 shares during the period. Rhumbline Advisers’ holdings in ChampionX were worth $18,100,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. raised its position in ChampionX by 442.4% in the 3rd quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock valued at $44,000 after buying an additional 1,084 shares during the last quarter. R Squared Ltd bought a new stake in shares of ChampionX in the 4th quarter worth $103,000. KBC Group NV grew its stake in shares of ChampionX by 18.3% in the 3rd quarter. KBC Group NV now owns 5,827 shares of the company’s stock worth $176,000 after acquiring an additional 903 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of ChampionX in the third quarter valued at about $265,000. Finally, Coldstream Capital Management Inc. lifted its position in shares of ChampionX by 6.6% during the third quarter. Coldstream Capital Management Inc. now owns 9,625 shares of the company’s stock valued at $290,000 after purchasing an additional 594 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup reduced their price objective on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, November 14th.

ChampionX Stock Performance

Shares of ChampionX stock opened at $29.69 on Friday. The business’s fifty day simple moving average is $28.52 and its 200 day simple moving average is $29.74. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32. ChampionX Co. has a 12 month low of $25.57 and a 12 month high of $39.95. The firm has a market capitalization of $5.66 billion, a P/E ratio of 17.99 and a beta of 2.35.

ChampionX (NASDAQ:CHX) last released its earnings results on Tuesday, February 4th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. As a group, analysts anticipate that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.28%. The ex-dividend date is Friday, April 4th. ChampionX’s dividend payout ratio is 23.03%.

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.