Stifel Financial Corp Raises Position in ChampionX Co. (NASDAQ:CHX)

Stifel Financial Corp lifted its position in shares of ChampionX Co. (NASDAQ:CHX) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 153,756 shares of the company’s stock after acquiring an additional 5,833 shares during the quarter. Stifel Financial Corp’s holdings in ChampionX were worth $4,636,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CHX. Quantinno Capital Management LP purchased a new position in ChampionX in the third quarter worth $265,000. HGC Investment Management Inc. purchased a new position in shares of ChampionX in the 3rd quarter valued at about $1,296,000. HighTower Advisors LLC lifted its stake in shares of ChampionX by 4.3% in the third quarter. HighTower Advisors LLC now owns 13,621 shares of the company’s stock valued at $405,000 after purchasing an additional 564 shares during the period. Holocene Advisors LP purchased a new stake in ChampionX during the third quarter worth about $444,000. Finally, ClearAlpha Technologies LP grew its position in ChampionX by 87.4% during the third quarter. ClearAlpha Technologies LP now owns 273,409 shares of the company’s stock worth $8,243,000 after buying an additional 127,482 shares during the period. 98.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Citigroup reduced their price target on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, November 14th.

Insider Buying and Selling at ChampionX

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the transaction, the insider now owns 337,409 shares of the company’s stock, valued at $10,142,514.54. This represents a 12.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.38% of the stock is owned by insiders.

ChampionX Stock Performance

Shares of CHX opened at $28.49 on Monday. The company has a 50-day moving average of $30.26 and a two-hundred day moving average of $31.16. The stock has a market cap of $5.43 billion, a P/E ratio of 17.70 and a beta of 2.38. ChampionX Co. has a 12-month low of $25.46 and a 12-month high of $39.95. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33.

ChampionX (NASDAQ:CHX) last announced its earnings results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The company had revenue of $906.53 million for the quarter, compared to analyst estimates of $916.50 million. During the same quarter last year, the company posted $0.41 EPS. ChampionX’s quarterly revenue was down 3.5% compared to the same quarter last year. As a group, research analysts predict that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be paid a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX’s payout ratio is 23.60%.

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.