ChampionX (NASDAQ:CHX) Sees Unusually-High Trading Volume Following Dividend Announcement

ChampionX Co. (NASDAQ:CHX) saw strong trading volume on Thursday following a dividend announcement from the company. 3,355,293 shares traded hands during trading, an increase of 2% from the previous session’s volume of 3,285,459 shares.The stock last traded at $29.88 and had previously closed at $30.37.

The newly announced dividend which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX’s dividend payout ratio (DPR) is presently 23.03%.

ChampionX Price Performance

The firm has a market cap of $5.75 billion, a P/E ratio of 18.27 and a beta of 2.28. The business’s fifty day simple moving average is $29.47 and its 200-day simple moving average is $29.46. 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 earnings per share (EPS) for the quarter, beating 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 forecast that ChampionX Co. will post 1.92 EPS for the current fiscal year.

Institutional Investors Weigh In On ChampionX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp boosted its position in shares of ChampionX by 153.2% in the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company’s stock valued at $25,000 after acquiring an additional 559 shares during the period. Venturi Wealth Management LLC lifted its stake in ChampionX by 1,051.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock worth $51,000 after purchasing an additional 1,725 shares in the last quarter. R Squared Ltd bought a new position in ChampionX in the 4th quarter valued at $103,000. Vestcor Inc boosted its holdings in ChampionX by 71.6% in the 4th quarter. Vestcor Inc now owns 5,032 shares of the company’s stock valued at $137,000 after purchasing an additional 2,100 shares during the period. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of ChampionX by 82,557.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company’s stock worth $157,000 after purchasing an additional 5,779 shares during the period. 98.99% of the stock is currently owned by institutional investors.

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.