ChampionX (NASDAQ:CHX) Sees Strong Trading Volume After Dividend Announcement

ChampionX Co. (NASDAQ:CHX) saw unusually-high trading volume on Wednesday following a dividend announcement from the company. Approximately 2,800,942 shares changed hands during trading, an increase of 17% from the previous session’s volume of 2,395,404 shares.The stock last traded at $29.88 and had previously closed at $30.02.

The newly announced dividend which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a dividend of $0.095 per share. The ex-dividend date is Friday, April 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.27%. ChampionX’s dividend payout ratio (DPR) is 23.03%.

ChampionX Trading Down 0.0 %

The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 18.19 and a beta of 2.28. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average is $29.40 and its 200 day moving average is $29.51.

ChampionX (NASDAQ:CHX) last announced its 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 earnings per share for the current year.

Hedge Funds Weigh In On ChampionX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHX. Jones Financial Companies Lllp grew its holdings in shares of ChampionX by 153.2% during the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company’s stock valued at $25,000 after buying an additional 559 shares in the last quarter. Venturi Wealth Management LLC grew its position in ChampionX by 1,051.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock valued at $51,000 after purchasing an additional 1,725 shares in the last quarter. R Squared Ltd acquired a new position in ChampionX in the 4th quarter valued at approximately $103,000. Vestcor Inc lifted its position in ChampionX by 71.6% in the 4th quarter. Vestcor Inc now owns 5,032 shares of the company’s stock worth $137,000 after buying an additional 2,100 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of ChampionX by 82,557.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company’s stock valued at $157,000 after buying an additional 5,779 shares during the period. Institutional investors and hedge funds own 98.99% of the company’s stock.

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.