KLP Kapitalforvaltning AS Makes New Investment in ChampionX Co. (NASDAQ:CHX)

KLP Kapitalforvaltning AS acquired a new stake in shares of ChampionX Co. (NASDAQ:CHX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 39,400 shares of the company’s stock, valued at approximately $1,071,000.

Several other large investors have also recently made changes to their positions in the company. Arizona State Retirement System raised its stake in ChampionX by 0.8% during the fourth quarter. Arizona State Retirement System now owns 55,268 shares of the company’s stock valued at $1,503,000 after purchasing an additional 436 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of ChampionX by 1.9% during the 4th quarter. Pacer Advisors Inc. now owns 28,394 shares of the company’s stock valued at $772,000 after buying an additional 532 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of ChampionX by 153.2% in the 4th 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 last quarter. HighTower Advisors LLC grew its position in ChampionX by 4.3% in the third quarter. HighTower Advisors LLC now owns 13,621 shares of the company’s stock worth $405,000 after acquiring an additional 564 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in ChampionX by 6.6% during the third quarter. Coldstream Capital Management Inc. now owns 9,625 shares of the company’s stock worth $290,000 after acquiring an additional 594 shares during the last quarter. 98.99% of the stock is owned by institutional investors.

ChampionX Price Performance

NASDAQ:CHX opened at $29.87 on Monday. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 18.10 and a beta of 2.28. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36. The business has a 50 day simple moving average of $29.44 and a 200-day simple moving average of $29.49. ChampionX Co. has a 1 year low of $25.57 and a 1 year high of $39.95.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.38 annualized dividend and a yield of 1.27%. ChampionX’s payout ratio is 23.03%.

ChampionX 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.