Ieq Capital LLC Takes Position in ChampionX Co. (NASDAQ:CHX)

Ieq Capital LLC purchased a new stake in shares of ChampionX Co. (NASDAQ:CHX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,401 shares of the company’s stock, valued at approximately $228,000.

A number of other large investors have also made changes to their positions in the company. Calamos Advisors LLC raised its stake in ChampionX by 470.4% during the 4th quarter. Calamos Advisors LLC now owns 1,494,500 shares of the company’s stock valued at $40,635,000 after purchasing an additional 1,232,500 shares during the period. Westchester Capital Management LLC raised its position in ChampionX by 67.8% during the third quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company’s stock valued at $85,268,000 after buying an additional 1,142,628 shares during the period. Oddo BHF Asset Management Sas acquired a new position in ChampionX during the third quarter valued at $15,075,000. Alpine Associates Management Inc. raised its position in ChampionX by 103.9% during the third quarter. Alpine Associates Management Inc. now owns 723,516 shares of the company’s stock valued at $21,814,000 after buying an additional 368,616 shares during the period. Finally, Barclays PLC increased its holdings in shares of 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 period. Institutional investors and hedge funds own 98.99% of the company’s stock.

Analysts Set New Price Targets

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

ChampionX Trading Up 1.8 %

NASDAQ CHX opened at $29.80 on Friday. ChampionX Co. has a 1-year low of $25.57 and a 1-year high of $39.95. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $5.69 billion, a PE ratio of 18.06 and a beta of 2.35. The firm’s fifty day simple moving average is $28.77 and its 200-day simple moving average is $29.69.

ChampionX (NASDAQ:CHX) last issued its earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Announces Dividend

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

About ChampionX

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.