Iridian Asset Management LLC CT Purchases 1,123 Shares of ChampionX Co. (NASDAQ:CHX)

Iridian Asset Management LLC CT boosted its position in shares of ChampionX Co. (NASDAQ:CHX) by 0.9% in the third quarter, Holdings Channel.com reports. The firm owned 127,943 shares of the company’s stock after acquiring an additional 1,123 shares during the period. Iridian Asset Management LLC CT’s holdings in ChampionX were worth $3,857,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in ChampionX by 6.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 526,091 shares of the company’s stock worth $18,881,000 after purchasing an additional 32,860 shares in the last quarter. Avantax Advisory Services Inc. acquired a new position in shares of ChampionX during the 1st quarter worth about $587,000. Sei Investments Co. boosted its stake in shares of ChampionX by 18.0% during the 1st quarter. Sei Investments Co. now owns 798,936 shares of the company’s stock worth $28,674,000 after buying an additional 121,700 shares during the last quarter. Bayesian Capital Management LP acquired a new position in shares of ChampionX during the 1st quarter worth about $1,052,000. Finally, Nordea Investment Management AB boosted its stake in shares of ChampionX by 0.5% during the 1st quarter. Nordea Investment Management AB now owns 233,342 shares of the company’s stock worth $8,475,000 after buying an additional 1,271 shares during the last quarter. Institutional investors own 98.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their price objective on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, July 15th.

ChampionX Trading Down 0.6 %

Shares of NASDAQ:CHX opened at $28.24 on Thursday. ChampionX Co. has a 52-week low of $25.46 and a 52-week high of $39.95. The company has a market capitalization of $5.38 billion, a P/E ratio of 17.54, a price-to-earnings-growth ratio of 1.27 and a beta of 2.37. The company has a 50-day simple moving average of $30.35 and a 200 day simple moving average of $32.10. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.25 and a current ratio of 1.99.

ChampionX (NASDAQ:CHX) last issued its 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 8.66% and a return on equity of 19.72%. The firm had revenue of $906.53 million during the quarter, compared to analyst estimates of $916.50 million. During the same quarter last year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. Sell-side analysts forecast that ChampionX Co. will post 1.99 earnings per share for the current year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were paid a $0.095 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.38 annualized dividend and a yield of 1.35%. ChampionX’s dividend payout ratio (DPR) is currently 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.