ChampionX Co. (NASDAQ:CHX) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 3.3% in the third quarter, Holdings Channel reports. The firm owned 1,786,303 shares of the company’s stock after selling 60,051 shares during the period. JPMorgan Chase & Co.’s holdings in ChampionX were worth $53,857,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. State Street Corp increased its position in shares of ChampionX by 1.7% in the third quarter. State Street Corp now owns 7,422,097 shares of the company’s stock worth $223,776,000 after acquiring an additional 122,622 shares in the last quarter. Geode Capital Management LLC boosted its position in ChampionX by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,617,387 shares of the company’s stock worth $139,239,000 after purchasing an additional 63,119 shares during the period. Millennium Management LLC increased its holdings in ChampionX by 12,607.0% in the 2nd quarter. Millennium Management LLC now owns 3,120,847 shares of the company’s stock valued at $103,643,000 after purchasing an additional 3,096,287 shares in the last quarter. Westchester Capital Management LLC raised its position in ChampionX by 67.8% in the third quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company’s stock valued at $85,268,000 after purchasing an additional 1,142,628 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of ChampionX by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,623,131 shares of the company’s stock worth $79,087,000 after purchasing an additional 84,875 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Insider Buying and Selling

In related news, insider Deric D. Bryant sold 49,303 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total value of $1,482,048.18. Following the completion of the sale, the insider now directly owns 337,409 shares of the company’s stock, valued at $10,142,514.54. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.38% of the company’s stock.

ChampionX Stock Performance

ChampionX stock opened at $27.35 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.20. The firm’s fifty day moving average price is $29.08 and its 200 day moving average price is $30.69. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 16.99 and a beta of 2.38. ChampionX Co. has a 12-month low of $25.46 and a 12-month high of $39.95.

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

ChampionX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Friday, January 3rd. ChampionX’s payout ratio is currently 23.60%.

Wall Street Analysts Forecast Growth

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

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.