D. E. Shaw & Co. Inc. Buys 35,444 Shares of ChampionX Co. (NASDAQ:CHX)

D. E. Shaw & Co. Inc. grew its stake in shares of ChampionX Co. (NASDAQ:CHX) by 34.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,020 shares of the company’s stock after buying an additional 35,444 shares during the period. D. E. Shaw & Co. Inc. owned 0.07% of ChampionX worth $3,726,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Deutsche Bank AG increased its position in shares of ChampionX by 39.9% during the fourth quarter. Deutsche Bank AG now owns 172,642 shares of the company’s stock valued at $4,694,000 after buying an additional 49,210 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in ChampionX in the fourth quarter valued at approximately $1,327,000. Bridgefront Capital LLC purchased a new stake in ChampionX in the fourth quarter valued at approximately $802,000. Caxton Associates LP purchased a new stake in ChampionX in the fourth quarter valued at approximately $8,190,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of ChampionX during the 4th quarter valued at $9,294,000. 98.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus lifted their price objective on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, May 5th.

ChampionX Stock Down 0.1%

Shares of CHX opened at $25.98 on Monday. The firm has a market cap of $4.97 billion, a P/E ratio of 15.75 and a beta of 1.52. The stock has a 50 day simple moving average of $26.40 and a two-hundred day simple moving average of $28.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36. ChampionX Co. has a 1 year low of $21.92 and a 1 year high of $35.94.

ChampionX (NASDAQ:CHX) last issued its earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.09. The business had revenue of $864.46 million during the quarter, compared to analyst estimates of $900.59 million. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. ChampionX’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 earnings per share. On average, analysts forecast that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.46%. The ex-dividend date is Thursday, July 3rd. ChampionX’s dividend payout ratio is currently 25.17%.

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.