Envestnet Asset Management Inc. Reduces Position in ChampionX Co. (NASDAQ:CHX)

Envestnet Asset Management Inc. cut its stake in shares of ChampionX Co. (NASDAQ:CHX) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 756,762 shares of the company’s stock after selling 71,863 shares during the period. Envestnet Asset Management Inc. owned about 0.40% of ChampionX worth $20,576,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CHX. Norges Bank purchased a new stake in ChampionX during the 4th quarter valued at approximately $74,032,000. Calamos Advisors LLC increased its holdings in ChampionX by 470.4% in the 4th quarter. Calamos Advisors LLC now owns 1,494,500 shares of the company’s stock valued at $40,635,000 after acquiring an additional 1,232,500 shares during the last quarter. Birnam Oak Advisors LP purchased a new stake in ChampionX in the 4th quarter worth $17,037,000. Oddo BHF Asset Management Sas purchased a new position in shares of ChampionX during the third quarter valued at about $15,075,000. Finally, Alpine Associates Management Inc. grew its position in shares of ChampionX by 63.5% during the fourth quarter. Alpine Associates Management Inc. now owns 1,182,716 shares of the company’s stock valued at $32,158,000 after purchasing an additional 459,200 shares in the last quarter. Institutional investors own 98.99% of the company’s stock.

ChampionX Price Performance

NASDAQ:CHX opened at $24.48 on Tuesday. The company has a market capitalization of $4.67 billion, a P/E ratio of 14.84 and a beta of 1.81. ChampionX Co. has a 12 month low of $21.92 and a 12 month high of $37.83. The business’s 50-day moving average is $28.39 and its 200 day moving average is $29.10. 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 (NASDAQ:CHX) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.50 EPS for the quarter, beating 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, equities research analysts forecast that ChampionX Co. will post 1.92 earnings per share for the current fiscal 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 paid a dividend of $0.095 per share. The ex-dividend date is Friday, April 4th. This represents a $0.38 annualized dividend and a yield of 1.55%. ChampionX’s payout ratio is currently 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.