Wedge Capital Management L L P NC decreased its stake in shares of ChampionX Co. (NASDAQ:CHX – Get Rating) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 310,414 shares of the company's stock after selling 5,588 shares during the quarter. Wedge Capital Management L L P NC owned about 0.15% of ChampionX worth $6,162,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in CHX. Signaturefd LLC boosted its stake in ChampionX by 87.7% in the 1st quarter. Signaturefd LLC now owns 2,042 shares of the company's stock worth $50,000 after purchasing an additional 954 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of ChampionX by 19.7% during the fourth quarter. Teacher Retirement System of Texas now owns 38,525 shares of the company's stock valued at $779,000 after buying an additional 6,339 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of ChampionX by 2.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 65,419 shares of the company's stock valued at $1,602,000 after acquiring an additional 1,566 shares in the last quarter. Gates Capital Management Inc. increased its position in shares of ChampionX by 36.1% during the first quarter. Gates Capital Management Inc. now owns 6,653,209 shares of the company's stock valued at $162,871,000 after acquiring an additional 1,766,481 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in ChampionX in the 1st quarter worth approximately $523,000. 98.74% of the stock is owned by institutional investors.
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Analysts Set New Price Targets
CHX has been the subject of a number of research analyst reports. Benchmark began coverage on ChampionX in a report on Wednesday, August 24th. They issued a "buy" rating and a $32.00 target price for the company. Bank of America upgraded ChampionX from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $25.00 to $22.00 in a report on Friday, July 15th. Finally, The Goldman Sachs Group lowered their target price on shares of ChampionX from $26.00 to $21.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, ChampionX currently has an average rating of "Moderate Buy" and a consensus target price of $28.60.
ChampionX Stock Down 2.1 %
ChampionX stock opened at $20.97 on Wednesday. The stock has a fifty day moving average of $21.16 and a 200 day moving average of $22.15. ChampionX Co. has a one year low of $16.64 and a one year high of $28.08. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.15 and a current ratio of 1.95. The stock has a market cap of $4.26 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 0.37 and a beta of 2.62.
ChampionX (NASDAQ:CHX – Get Rating) last released its earnings results on Tuesday, July 26th. The company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. ChampionX had a net margin of 4.78% and a return on equity of 10.79%. The company had revenue of $932.57 million for the quarter, compared to analysts' expectations of $897.30 million. During the same quarter last year, the business earned $0.11 EPS. As a group, sell-side analysts predict that ChampionX Co. will post 1.21 EPS for the current year.
ChampionX Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Thursday, October 6th. ChampionX's dividend payout ratio (DPR) is presently 37.98%.
About ChampionX
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ChampionX Corporation provides chemistry solutions, and engineered equipment and technologies to oil and gas companies worldwide. The company's Production Chemical Technologies segment offers onshore and offshore chemical solutions, such as corrosion inhibitors, scale inhibitors, emulsion breakers, and biocides to oil and natural gas production and midstream markets to manage and control corrosion, oil and water separation, flow assurance, sour gas treatment, and water-related issues.
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